Word: volkswagen
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Dates: during 1990-1999
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...people have kept their heads. Statistical measures of U.S. consumer credit show that it is still growing, but economists expect such borrowing to expand only 3.5% this year, in contrast to increases of about 8% in each of the past two years. As for the Fiorentinos, when their 1980 Volkswagen broke down, they replaced it with a modest 1986 Isuzu Trooper. Autoworker Bruce Boyd, 30, of Leonard, Mich., says his family has been trying to avoid using credit cards for the past several months. "I'm trying to tighten up just because of the world situation," says Boyd...
What may be news to the driver in the street is no surprise to European auto manufacturers: they planned it that way. German car companies, in particular, have cashed in on the new opportunity, grabbing nearly two-thirds of the business. Volkswagen-Audi leads with expected sales of 60,000 cars this year, followed by BMW, which should hit 40,000. Mercedes, which sold 31,500 last year, will be close behind. For these companies, Japan is rapidly approaching the importance of the U.S. market. In fourth place in the Japanese market is a dark horse: Britain's lackluster Rover...
According to Yasuto Mizoguchi, president of Volkswagen Asia, "European automobile quality has always been recognized in Japan." The strong yen has helped bring prices within reach, but the European success is mainly due to hard work and heavy investment. BMW has gone furthest in putting down roots. It has built from scratch its own network of 120 dealerships and committed serious money to a big spare-parts center. At its vehicle-preparation facility, the imports are tuned and polished to the perfection that the finicky Japanese buyer demands. Says Hans-Peter Sonnenborn, president of BMW Japan: "Japanese customers are extremely...
...That's like trying to push over a Volkswagen," he said. "I had a cow step on my foot one time, and I pushed and pushed, but she wouldn't budge...
...intellectual, scholarly, never married Justice Benjamin Cardozo and a tightfisted solitary cleric. In looks and wit, he resembles comedian Pat Paulsen; in his 5 o'clock shadow, Richard Nixon. He favors well-worn suits (black robes are said to add color to his wardrobe), cheap cars (a 1987 Volkswagen), non-power lunches (cottage cheese and an apple) and classical music. His main indulgence is to go off with his small circle of friends to Boston for the symphony, with a stop at Goodspeed's, a rare print-and-book shop in the city. There he purchased the 1850s print...