Word: chrysler
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Dates: during 1950-1959
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...with the big drop in steel use in Detroit. January auto sales were the most disappointing since 1954 with only 381,000 new cars delivered-down 22.6% from December. Ford Motor Co., after record 1957 sales of $5.8 billion (with profits of $282 million), was off an estimated 30%; Chrysler Corp., with record 1957 sales of $3.5 billion (and profits of $120 million), tumbled an even sharper 34%, dropping back to 14% of the market. General Motors' sales dropped only 11%, and G.M. jumped up to 56% of the market v. 46% last year. Nevertheless, the industry...
...soft. He was mobbed by grey flanneled greeters, hailed by groups with big campaign buttons and placards plugging their wares. The only top agency that seemed to stand aloof was McCann-Erickson; everyone assumed it was not in the running because it already had the competing $26 million Chrysler account...
...centuries. Wernher was born in Wirsitz, East Prussia (now part of Poland), the middle son of Baron Magnus von Braun, the local state administrator. Today Wernher's older brother, Sigismund, is counselor at the German embassy in London; his younger brother, Magnus, is program-control manager of the Chrysler Corp.'s new missile division in Detroit. Last week in a comfortable Oberaudorf apartment, Baron Magnus von Braun, tanned and vigorous, celebrated his 80th birthday, marked by a four-page letter from Wernher and a gift of twelve bottles of Rhine wine. Said he, fingering his white walrus mustache...
...cars to small even though the public may want them. As expected, he feels it does. American's January production of its small Ramblers was up 163% over the same 1957 period, and Romney expects "a substantial profit in 1958." Every other automaker had a January production slump. Chrysler slashed output 54% below the same period last year, Studebaker-Packard was down 59%, Ford 34%, General Motors...
...higher 1958 prices the trouble? The Senators heard Chrysler's President Lester Lum Colbert implicitly deny it. "Tex" Colbert insisted that automakers can still have a good year "as soon as we get over this psychological thing" of recession-minded customers. "Prices are only a part of competition," he said. "You just can't go along with supply and demand. You price over a long-range program." Chrysler tried smaller cars in 1953-54. They were shunned in favor of larger (and cheaper) models made by G.M. and Ford. Chrysler tried cutting prices...