Word: chevrolet
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...show to dollar-conscious consumers was something much plainer, the Chevrolet. Though little changed in body style, the Chewy had an automatic transmission (a version of the Dynaflow), the first in the low-priced field, and a new engine delivering 105 h.p. Chewy hoped to put the "Power Glide" automatic shift on 20% of its cars this year. The price: $150 extra...
...lending Henry Kaiser $34.4 million only a month ago, the RFC last week opened its cash drawer and plunked out another $10 million to its great & good friend. The earlier loan was to help Kaiser-Frazer bring out a low-priced car by next spring to compete with Ford, Chevrolet and Plymouth. The second loan was to permit K-F to finance its dealers' purchases of cars from the factory, because K-F dealers had trouble getting loans from private banks. All told, RFC has loaned K-F almost as much as the company raised in stock sales...
...said some of the cash would be used to tool up for a complete line of cars. (K-F now makes only four-door sedans.) Detroit also heard that about $5,000,000 would be used to turn out a car for under $1500 to challenge Ford, Plymouth and Chevrolet. Henry Kaiser, who has paid back $67.6 million of his federal loans, now owes the government $149.8 million...
...been dickering for a $30 million . loan since May, and if "all requirements are met" the RFC might be disposed to grant it. Detroit buzzed with rumors that Kaiser would use such a loan to retool for his long-promised, light low-priced car to compete with Chevrolet Ford and Plymouth...
...word "recession." First-half profits hit an astronomical $303.7 million, 46% above 1948. The reason: as steel became plentiful this year, G.M. was able for the first time since the war to push its production throttle to the floor board. G.M. intended to keep it there: next week, Chevrolet's Flint plant will add an extra shift to step up production from 480 cars a day to 680. In 1949's second quarter, G.M. had already broken all previous quarterly production records by turning out 792,346 cars and trucks...