Word: buyer
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Most of the auto ads this year feature no-nonsense comparisons of m.p.g. ratings and maintenance costs. But shameless luxury is still available to the unabashed motoring materialist. As Ford and Chrysler executives last week nervously waited for buyer response to such new, fuel-efficient small cars as the Ford Escort and Dodge Aries, automotive big spenders could anticipate the arrival of two lavish examples of conspicuous consumption on wheels...
That goal, however, could run into some buyer resistance. Drivers continue to be stunned by the price tags on the new models rolling out of Detroit. Ford announced last week that its new subcompact Escort would cost at least $5,128. That is over $1,000 more than the Pinto it replaces and will be about $200 more than a 1981 Toyota Corolla. GM's hot-selling Chevrolet Citation four-door hatchback at $6,282 will cost 9.6% more this autumn; the price has risen almost 40% since it was introduced 1½years ago. To make the price...
...onto the market on a near panic basis. One result: the 1974 Dodge Aspen and Plymouth Volare have the dubious distinction of being two of the most recalled cars in history. Operating on the industry's fringe, American Motors Corp.'s small cars failed to win wide buyer approval. Its profits came largely from the popular, though fuel-thirsty, four-wheel-drive Jeep...
...stocked up with a $350 rhinoceros-shaped leather hassock, $300 pipes made from bruyère roots and $40,000 elephant guns inlaid with gold and platinum. A discriminating car collector can pick up a new version of the famed Abercrombie Runabout sports convertible for $20,775. If any buyer cares, the car gets a surprising 25 m.p.g. on the highway...
...investor who buys a financial future is betting that interest rates will decline or that a foreign currency's value will rise before his contract matures, thereby increasing the dollar value of the securities or currency that he has agreed to purchase. Margin requirements are low: a buyer may put up as little as $1,500 to buy a three-month contract for $1 million worth of Treasury bills, for example. Under a complicated formula, such a buyer might make a $2,500 profit if the interest rate was 8% when he bought the contract and 7% when...