Word: carly
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Dates: during 1950-1959
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Crashing Bore. In El Centro, Calif., convicted of hit-and-run driving, Luz Vera explained why he did not stop his car: "I didn't know anyone in the other car...
...buyers are also borrowing heavily to get the goods they need, boosted consumer credit by $2 billion in this year's first half to $46.7 billion. Much of it is financing new cars. August car sales, which usually slow down in anticipation of new models, ran faster than July's, probably topped 500,000. For the fourth quarter, automakers are scheduling production of 1,900,000 new cars, up 41% from last year. By next spring, they expect to be selling at an annual rate of 7,200,000, within a bumper's reach...
Stock Sensation. While many eyes are set on the European small car and its new U.S. competitors, Daimler-Benz is out to grab a heftier share of the big-car market. The U.S. already buys 10% of its production, and its U.S. sales are racing 160% ahead of last year, are expected to top 15,000 cars by year's end. With 54% of its production going to 136 countries, Daimler-Benz has hiked worldwide sales 16% this year, expects to run up a 1959 sales figure of $600 million for the best year in its history...
...interest in Daimler-Benz between 1954 and 1957. Flick has driven Mercedes so fast and furiously that his stock has risen in value from $20 million to $200 million, and he has rocketed back to become Germany's No. 2 industrialist (after Alfried Krupp). Seeking a smaller car for the Mercedes line, Flick had Daimler buy 88% of the competing Auto Union company, which puts out the D.K.W. buggy (Manhattan price: $1,995). Counting Auto Union's sales of $120 million yearly, Flick's Daimler complex now ranks as the world's fifth-biggest automaker (after...
European automen are sure that Flick yearns to grow still bigger. They buzz that he is working toward a merger with a major French or Italian automaker to dominate the car industry in the European Common Market. He has had Daimler buy preferred shares that can be converted into 5% of Studebaker-Packard Corp., his U.S. distributor. But a key factor in Daimler-Benz's plans will be the effect of the new U.S. compact cars on Mercedes' vital U.S. sales. Daimler-Benz is less worried than most other European car makers. Says President Fritz Konecke: "Our appeal...