Word: chrysler
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Dates: during 1960-1969
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Looking back, Townsend says: "Chrysler had it all. It had the plants, the engineering, the money, the dealers, everything. But it all had to be put together." Chrysler's constantly improving slice of the U.S. auto market shows how well Townsend has put it together. The company's share of the market went up from 10.3% in 1962 to 18.4% during the first seven months of 1968. Profits soared from a meager $11 million on $2.1 billion sales in 1961 to last year's $200 million on $6.2 billion sales. That trend continued during the first half...
When small, low-priced imports took over a 10% share of the domestic auto market in the late 1950s, General Motors fought back with the Corvair, Ford with the Falcon, and Chrysler with the Valiant. So successful were these com pacts that by 1962 the foreign share of the market had dropped to under 5%. Figuring that the battle was over, the Big Three made the mistake of allowing their compacts to grow in both size and price. The result has been a new upsurge in the popularity of imports, which grabbed 9.4% of U.S. sales...
...less to beauty than to size and price. With many foreign cars, of course, there is also the desire for prestige. Until now, the Big Three have been trying to fill the size and price specifications with their own foreign-built cars, notably Ford's English-made Cortina, Chrysler's made-in-France Simca, and G.M.'s German-made Opel, the next best-selling import after Volkswagen...
...introduce its version in the fall of 1969, at the same time dropping its slow-moving Corvair. American Motors also hopes to produce a small car next year, provided that it can hold down the tooling-up costs. The only automaker without a domestic minimodel in the works is Chrysler, which instead has decided to consider development of what it calls a "world car," a low-cost auto that would probably be manufactured in France and aim at acceptance in both the U.S. and European markets...
...many boudoir invitations as Frank Sinatra. Yet he has remained married to his first wife for 28 years. Though worth at least $5,000,000, he lives in a comparatively modest, four-bedroom, ivy-covered house in Bel Air Estates. He owns two cars, a Chrysler for him, one for her-just like any other successful, harried commuter. When The Way West was on location in Oregon, his costars, Richard Widmark and Kirk Douglas, rented houses in Christmas Valley. Mitchum bunked with the wranglers...