Word: compacting
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...best for any ten-day period in four years. The National Automobile Dealers' Association reported that U.S. auto dealers had their best first quarter in five years, were averaging an operating profit of $70 per new car sold v. last year's $63, despite lower markups on compact cars. With the compacts doing so well, General Motors made it official that it will offer three new ones: a Buick called the Special, a Pontiac called the Tempest, and an Oldsmobile called, for reasons that puzzled even some Olds executives...
...though they are still 18% below 1959 so far this year. The Government hopes that an easing in mortgage money will bring a further pickup. Auto production last week was scheduled to reach 150,338 units, the highest since February; sales were still booming along, led by the compact cars. Next month Ford will make the eighth boost in production of its compact Falcon, stepping it up 10%. That will bring the Falcon to an annual rate of nearly 600,000 cars-just about double the company's early estimates of what it would sell...
...Sales of compacts are moving up so well that makers are preparing to broaden their compact lines. At least two more compact convertibles, joining Studebaker's Lark convertible, will appear in the 1961 compact lines. American Motors will bring out a 100-in. Rambler convertible with a factory list price of $2,000 and a body redesigned to give a sporty appearance...
...Chevrolet checked in with a record first-four-month total. April sales were 140,136 cars (up 20% from April 1959), with the compact Corvair accounting for nearly 13.5% of the total...
Since the automaker's profit is less on compacts than standard cars, manufacturers have to sell more cars to make up the difference. To date, as first-quarter profits show, they have done so. For dealers, too, the profit margin on a compact is lower. But since sales are up this year and price cutting has not yet affected compacts, dealers are doing all right...