Word: compacter
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FRENCH CAR EXPORTS are facing more cuts because of U.S. compact competition. Renault fired 3,000 of its employees as unsold cars crowd French warehouses. Automaker Pan-hard cut its work week; Simca and Citroen plan to use some of the same production facilities to cut costs...
FORD EARNINGS are showing the impact of the smaller profit on compact cars. Although the number of cars sold this year was up 4.9%, earnings in the first nine months were $5.76 a share v. $6.19 last year. The third-quarter profit rate was better, indicating that as the sales of compacts soar, the profit improves...
...year. Aided by 70% load factors on its new jets, which now carry 56% of United's passengers, United Air Lines made a steep climb; President William A. ("Pat") Patterson announced record third-quarter earnings of $1.97 per share, up from $1.74 a year ago. Ford, riding the compact crest, announced an extra quarterly dividend...
Frisco's Gilliland also put Frisco engineers to work to design a special auto-carrying freight car. They devised a triple-deck, 85-ft. flatcar capable of carrying twelve standard or 15 compact cars v. eight or ten cars piggybacked. The Frisco commissioned Pullman Inc. to build a prototype, and after testing it ordered 129 more. The first went into service in August, proved so economical that the St. Louis-Dallas delivery charge was reduced to $65.05 for a standard car, $54 for a compact. By the end of this month, when all 130 of the new cars...
...Compacts v. Steel. Another barometer dear to the economists is the steel indus try, which is also facing a new situation. Now operating at about 50% of capacity, steel has been hit by the popularity of the compact car. Ford's standard four-door Galaxie requires 3,349 lbs. of steel to build; a four-door compact Falcon with standard transmission requires 2,110 lbs. Thus Ford can build three Falcons with the steel that goes into two Galaxies. If, as some auto experts predict, 50% of all U.S. cars made next year are compacts, the industry would...