Word: rambler
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Dates: during 1950-1959
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Just as remarkable, Romney has proved a powerful competitor not only against the Big Three but against a flood of small imported cars, whose chief selling point is even lower cost and greater economy than the Rambler. This year the 60-odd foreign cars coming into the U.S. are expected to account for 560,000 units, or more than 10% of the U.S. market. But Rambler's sales have risen faster than any of the imports...
Fifth Place. Rambler has done so well that it is in fifth place in U.S. auto sales (after Chevrolet, Ford, Oldsmobile and Pontiac); its share of the market has risen from 1.6% to 6.2% in two years. This week it made its 20th successive increase in production in 1½ years. Yet the public is still ordering Ramblers faster than American can produce them. Romney is in the midst of a $10 million expansion program that will lift the company's capacity to 440,000 cars a year...
...Rambler's success, the Big Three are not hurting much. Last week the auto industry showed promise of the first spring pickup in sales since 1955, chalked up a record near two-year, midmonth high of 174,780 new car sales. Automen are confident of a 5,500,000-automobile year. That is good news for George Romney; the more car sales, the bigger the share he expects...
...Rambler's success is writ large in the company's books. American's earnings after taxes for the first six months (ending this week) of its fiscal year will reach almost $35 million, or about $5.80 a share v. $26 million for the whole twelve months of the last fiscal year. For the entire year, American should earn upwards of $50 million, and may easily earn as high as $64 million, or about $11 a share, if Romney's confident expectation of 350,000 Rambler sales holds up. Earnings are piling up so fast that Romney...
Loyal Owners. Though Romney has loudly condemned annual styling changes (the Rambler has changed little in two years), he will meet the threat of the Big Three's new compact cars by giving Rambler a fresh, crisp look for 1960. If his sales should be hurt, no one doubts that he would completely restyle the Rambler in 1961 to make it competitive with anything that the Big Three can throw...