Word: lacocca
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Dates: during 1970-1979
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...down the weight of cars, designing lean-burning, "stratified-charge" engines and developing electronic ignition systems that fire spark plugs at precisely the right time in the engine cycle. Last week the Ford Motor Co. revealed that it had developed still another way of saving gas. Ford President Lee lacocca announced that within two years, his company will offer six-cylinder vans and light trucks equipped with a device that will automatically shut off fuel to three of the engine's cylinders when the vehicle reaches cruising speed. Ford's better idea will cut gas consumption...
Turned Corner. Though the sales figures represented only the second consecutive good ten-day reporting period, they signaled to auto executives that Detroit was rebounding along with the U.S. economy. "Our business turned the corner with the introduction of the 1976 models," declared Ford President Lee lacocca. Chevrolet General Manager Robert Lund noted that early October truck sales were also significantly higher: 34% above the 1974 figure. "Trucks are always a weather vane for business," he said. "People buy them to make money with them...
...Chevette's competition will not come only from imports. Last week Ford announced the Pinto Pony MPG, sticker-priced at $2,895, $4 below the Chevette and now lower than any other U.S.-built car. In an obvious slap at GM, Ford President Lee lacocca added, "The back seat comes at no extra charge...
...economist can be found who does not expect an upturn some time this year, and most are looking for it sooner rather than later. "I think honestly that it's going to turn around in this quarter," says Joseph B. Lanterman, chairman of Amsted Industries. Says Lee lacocca, president of Ford Motor Co.: "The worst is behind us." Richard Everett, chief domestic economist of the Chase Manhattan Bank, proclaims himself "confident that the recession will be ended by summer...
...programs, for example, are at least a temporary effort to soften the public's indignation about the high price of the 1975 small models. Moreover, the industry leaders now agree that there will have to be more small cars in their future. Predicts Ford's President Lee lacocca: "By the end of the 1970s, we think that small cars will be selling over large cars 60 to 40. We're planning it that way, and we think we're right...