Word: lacocca
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...kept them from getting really carried away was the nagging fear that the 1969 models, which would enter the showrooms by October and bear higher price tags but few major styling changes, might meet with buyer resistance. That fear has all but evaporated. As Ford Executive Vice President Lee lacocca put it, Calendar 1968 is a "lead-pipe cinch" to wind up as the best sales year in history, surpassing the 1965 record of 9,314,000 cars...
...lacocca did not stop there. In a speech before the Philadelphia Mortgage Bankers Association last week, he predicted that by the late 1970s "we won't be showing any particular elation over a 13 million year. That kind of market will have become routine...
Beep Beep. The immediate reason for lacocca's optimism is the reception that the '69 models are getting. Last week Detroit reported that sales for Oct. 1-10, the first period during which all '69s were up for sale, were running at an average 34% a day ahead of the same period a year before. The biggest improvement was achieved by Ford, which increased sales by 180% over, last year, when a 49-day strike slowed its business to a crawl. The other three automakers also increased sales: General Motors by 11.7%, Chrysler by 7%, and American...
...biggest shadow in Detroit's future is the growing popularity of foreign models. They now control 10% of U.S. sales, and in Southern California, the auto industry's most lucrative regional market, they have cornered an impressive 25%. Ford's Executive Vice President Lee lacocca says that it is a matter of price. "People say: 'Where can I buy a car for $2,000?' It's that simple...
...other Ford executives, Vice Chairman Miller seemed almost relieved. No engineer, Miller has never worked on an assembly line or run an auto plant. In his five years as president, he found it difficult to keep some underlings under firm control, notably the brilliant but impulsive Lee lacocca, 43, who heads Ford's North American automotive operations. lacocca (TIME cover, April 17, 1964) had been widely regarded as a candidate for the Ford presidency. Now, he presumably faces a decade of waiting under Knudsen-and one of Detroit's current speculations is what...