Word: lows
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Dates: during 1950-1959
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This year's best seller among higher-priced cars is what the trade calls "the jewelry-box special"-Oldsmobile, with more chrome (44 Ibs.) than any other car in history. Now fourth, it is pushing Plymouth for third place. Among the low-priced three, the fancy Chevrolet Impala and Ford Fairlane 500 outsell less chromy models by three to one. On Ford's custom line, there is a decorative gold-anodized-aluminum strip (along with an armrest and cigarette lighter) that costs $20 extra; 76% of Ford's customers demand it on their cars. Says Ford Stylist...
With a show of independence from the tribulations of the economy, the stock market last week climbed to a new high for the year, closing the week at 459.56 on the Dow-Jones industrial average, up 5 points for the week and 23 points above the year's low. The market was boosted by those who kept their eyes on a bright future, rather than the grey present...
...Inland Steel was off 46% ($1.40 a share v. $2.59). Steel production was down to about 47% of capacity last week, only about half of last year's production for the same period. The fact that steel continued to show a worthwhile profit while operating so low was a strong tribute to the industry's efficiency...
...small, chromeless Henry J. was a dismal failure. So was the drab 1954 Plymouth, which was 4 in. shorter than the year before. Sales dropped nearly 36% to only 381,000 cars a year. A year later Plymouth rolled out the longest (204 in.) car among the low-priced three and promptly boosted sales back up to 647,000 cars...
...people seem to be intensely interested in safety. Ford spent $10 million trying to sell the public on padded dashboards, deep-dish steering wheels and safety belts, priced its equipment so low that in 1956 it lost money on each unit. Result: only 45% of its customers order crash padding, only 2% order both padding and seat belts...