Word: packards
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...much of the auto industry overtime pay was the rule. Ford's Ford Division was operating six days at five assembly plants. So was the Lincoln-Thunderbird unit, along with Studebaker-Packard and American Motors. George Romney's Ramblers set another production record: 8,550 cars turned out on the way up to a programed rate of 8,850. Still catching up from the effects of a strike-caused glass shortage, Plymouth was on a six-day week at the Detroit, Newark, Del. and Los Angeles assembly plants...
South Bend, Ind. last week was in the throes of one of the worst winters in its history, yet hardly anyone talked about the weather. "With all these Larks around," said Studebaker-Packard's President Harold E. Churchill, "it's been like spring." Production of the Lark was up to 4,300 cars a week; total production for 1959 so far (61,000) was 12,000 ahead of the entire 1958 model year...
...claims for jobless pay. Department store sales ran 5% above the year-ago level. January auto production, geared closely to sales, moved 11% higher than last year's rate (see chart). American Motors was selling three times as many Ramblers as it did in January 1958. Studebaker-Packard was also outselling last year 3 to 1, due almost entirely to its fast-moving little Lark. The company had already outproduced its 1958 total of 49,770 and made a $3,700,000 operating profit in 1958's fourth quarter, its first profit in five years. Chevrolet output, still...
...market, American Motors presented fresh evidence of how profitable the market is. American's President George Romney reported that in the fourth quarter of 1958 the company earned $21 million, or $3.56 a share, nearly as much as it cleared in the previous twelve months. Studebaker-Packard's Lark sold so well in the first ten days of January that the company for the fourth time has raised its production...
...sales increase was the more encouraging because it came in the midst of freezing weather and snow over much of the U.S.. and at a time when Chrysler production was cut by a strike. Small cars continued to gain speed; American Motors and Studebaker-Packard picked up 6.6% of December sales v. 2.8% last year...