Word: detroit
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Dates: during 1960-1969
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Although faced with rising prices, a tax increase, the Vietnamese war and the cost of civil rights strife, the American consumer is pouring out vast amounts of money for new wheels. With the year half gone, Detroit has sold 3,830,725 cars, a jump of 342,994 over the same period in 1967. And automakers were happily predicting that if 1968 does not surpass the alltime record of 1965, it will still be a 9,000,000-plus year-perhaps the second best ever...
...Detroit's positions at the year's half way post...
...Detroit is counting on the last six months' being as rewarding as the first. In this mood, automakers are unloading heavy summer inventories on their dealers-some 2,920,000 cars against 2,270,000 last year. Nor do most automakers expect a setback when the 10% surtax nips at buyers' paychecks. Says Chrysler President Virgil Boyd: "The public has been oriented to the inevitability of a tax increase for a year...
Indeed, about the only grey area in an otherwise cheery outlook is foreign competition, which continues to cut into Detroit's market. The Big Four have not retaliated with minimodels of their own, but plans are on the drawing boards. Meanwhile, the invaders-led by Volkswagen, Opel and Toyota-are expected to sell 900,000 cars this year, up 119,500 from...
...dullest seasons in years-with the result that attendance is down 5% from 1967 -neither league can lay claim to anything remotely resembling a pennant race. In the National League last week, the St. Louis Cardinals were coasting along with a steady 61-game lead; in the American, the Detroit Tigers were an even brighter prospect with an eight-game bulge...