Word: lacocca
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Dates: during 1970-1979
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...days kept March sales from catching up to those in the same month a year earlier, they came within 1.4%. Even better, sales of 883,000 U.S.-made cars and 192,000 imports during the month work out to an annual rate of 11.5 million cars. Says Lee lacocca, the peppery president of Ford Motor Co., "We have recovered from the frostbite of January and February. March wasn't a turnaround. It was a resumption of sales. The market was there; it was buried in the snow...
...year, sales of compact and subcompact cars increased by 13%. The star performer at General Motors last month was the boxy Chevette; its sales were up 84%, compared with a year ago. At Ford, Mustang sales rose 14%, while the new Fairmont is a stellar seller. Ford's lacocca puts himself in the position of a price-conscious buyer who has been out of the market for a few years and then visits a showroom to do some tire kicking. Says he sympathetically, "It's a jolt to see what...
...four-door Chevette. Ford's Fairmont and Zephyr, which have replaced the Maverick and the Comet in the compact class, are moving out of showrooms in startling numbers. Indeed, the Fairmont is selling faster than the Mustang did when it was introduced in 1965. Says Ford President Lee lacocca: "We expect to top the first-year Mustang record" of 418,800 cars...
...cannot readily sight anyone bearing the family name to take over the running of the world's second-largest automaker. So, last week he announced that he will be joined in a three-man "office of the chief executive" by two other company heavyweights: President Lee A. lacocca, 52, and Philip Caldwell, 57, until now the company's adept executive vice president in charge of Ford's operations outside the U.S. (with $8 billion in annual sales, the largest of any U.S. auto company). The arrangement appeared to be a setup that would allow some other executive...
...reorganization appears to enhance Caldwell's position in the interim and blunt lacocca's rise, at least for now. When Henry is in Washington touting his views on energy legislation and emission standards to Congress and President Carter (he was an early Carter supporter), Caldwell will run Ford Motor. Only if Caldwell is unavailable will lacocca take over. lacocca fathered the phenomenally successful Mustang in the 1960s and has long hungered to be the first non-Ford to head the company since its founding in 1903. But his stiletto style and jungle-fighting tactics have earned him many...