Word: romneys
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Dates: during 1950-1959
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...hefty increases in December retail-truck deliveries. Chevy said truck sales in the first 20 days of December were up 38.5% from last year, and Ford expects December to be the best month for truck sales since 1955. Many in the industry, like scrappy, optimistic American Motors President George Romney, were revising industry predictions upward from a 5,500,000-car year. Said...
...European autos, such as Volkswagens, MGs, Renaults and Fiats, buzzed off with 8% of the domestic market, better than double their 1957 record. But the man of the year in autos was American Motors President George Romney, who had staked the fate of his company on the small Rambler and won. As sales soared, he turned American Motors' $11.8 million loss in 1957 into a $26 million 1958 profit, and at year's end sales and profits were still climbing fast...
American Motors' President George Romney, who has increased production six times this model year to keep up with the demand for the fast-selling Rambler (TIME, Dec. 8), last week announced another boost. Orders are coming in so fast that Rambler will increase its capacity from 330,000 to 440,000 cars annually. To complete the expansion before the 1960 model year, Romney will spend $10,150,000 on Rambler's facilities at Milwaukee and Kenosha, Wis., add at least 4,500 to the present payroll of some 18,000. With sales now running at a rate...
Because there is a higher net per car as volume increases, American Motors' profits are soaring far higher than the record $4.65 per share posted in fiscal '58. Romney expects to net a minimum of $17.5 million in the first six months, compared to $7.329,631 in the same period a year ago. Wall Streeters are just as optimistic; they figure that if Romney can keep up the hot pace and sell 325,000 cars in the whole year, American Motors will net upwards of $14 a share before taxes. Rambler is not only doing well...
...result of a ten-year-old program. After World War II, the late George Mason, then company president, concluded from market surveys that the U.S. was ready to return to "basic transportation" and a smaller, compact car. While other U.S. cars became costlier and heavier, Mason and his successor, Romney, introduced the first Rambler in 1950, drove it into the field, where the only competition was foreign. To cut costs, Romney consolidated field organization, factories and production, kept model changes at a minimum. He pushed Rambler's break-even point down to a low 120,000 cars a year...