Word: simca
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Dates: during 1950-1959
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...TIME, July 12). The Vedette has a better power-weight ratio than its U.S. cousin, will accelerate from zero to 60 m.p.h. in less than 20 seconds. It proved so popular that on opening day more than 1,500 orders were placed for the Versailles (de luxe) model alone. Simca showed off its new convertible. Other major attractions: a custom-built racing Jaguar with the famed 160-h.p. XK-120 engine; an $8,000 road-racing Porsche with a 70-h.p. engine and top speed of about 115 m.p.h.; a $10,000 Fiat designed by Pinin Farina with...
French visitors to the show were also surprised by price cuts. Simca reduced one model by $180, and Renault announced cuts up to $128. Citroën and Peugeot are expected to follow suit. Renault also came out with a time payment plan, something new for French car buyers. Frenchmen may sign up to buy a new Renault with 25 monthly payments, get delivery after the eighth payment is made...
...Place to Grow. Ford of France had good reasons to merge with Simca. Until two years ago French Ford was in trouble. The first postwar model of the Vedette, its bestseller, was brought out in November 1948 with a 67-h.p. engine* that proved underpowered for the weight of the car. It sold well until the sellers' market disappeared. Then French Ford began to lose money. Jack Reith and a team of experts were sent over from Detroit early last year to put the company on its feet. They cut labor and materials costs, produced 20,338 passenger cars...
Target: 700 Cars a Day. Reith convinced U.S. Ford, which owns 55% of the French company's stock, that it would be best to merge with Simca. This gives Simca Ford's 60-acre plant at Poissy, eleven miles from Paris, with 4,500 workers and 3,000 machine tools, plus its own 55-acre plant at Nanterre, with 9,000 workers and 3,200 machines. Production next year is scheduled at 500 Aronde and 200 Vedette passenger cars a day, about 40% of the French market. The new Vedette so impressed foreign dealers that the Belgian distributor...
...Paris Bourse and American Stock Exchange, stock traders looked with favor on the Simca-Ford combine. French Ford shares rose from 56? last January to $1.87 on the American Exchange, while Simca stock went from $34 to $54 a share on the Bourse. Stockholders of Ford of France will get one share of Simca for each 23 shares they now hold. They will be entitled to a dividend of $2.14 paid on Simca stock last May (i.e., about 9? a share on Ford stock) and will also have a U.S. market for their stock when Simca is listed...