Word: chapin
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
Onstage at Detroit's Cobo Hall was a line of four U.S.-made compact cars and four small imports-with a wide space in the middle. Pointing at the gap, American Motors Chairman Roy D. Chapin Jr. proclaimed: "The center of this market has been unoccupied-until today!" On that cue, a shiny new Rambler American burst through a paper partition. It carried a new, low price tag, which, said Chapin, would make it a "total value superior to the imports and superior in both price and range of choice" to U.S. compacts...
...Chapin aims to double Rambler sales to 140,000 cars this year, recapture at least 10% of the compact market it once dominated. His main ammunition: price cuts of from $154 to $234. The $2,073 two-door Rambler sedan will now go for $1,839, which is well under its closest U.S. competitor, the $2,117 Chrysler Valiant, and only $200 more than the Volkswagen...
...Marlin) when car buyers' taste returned to the larger size, and even stretched the length and breadth of some Ramblers, its share of U.S. auto sales steadily slipped, from 6.4% in 1960 to a mere 3.2% last year. In fiscal 1966, A.M.C. lost $12.6 million, and last week Chapin and new President William V. Luneburg had more bad news for their annual meeting...
...reduce inventories, American's plants will close for ten working days, the second such shutdown in two months. Having virtually exhausted a $75 million line of credit from 24 banks the company last month arranged an additional $20 million loan. All $95 million is due in May, but Chapin called the loans "renegotiable...
Despite misfortunes Chapin managed to sound optimistic. A.M.C. has not only pared costs by $27 million a year but has restocked executive ranks. More product changes are under way, and there are plans to put the Rambler into racing-to bolster its sporty image. "There is no time to spare," said Chapin, "but we believe there is time enough...