Word: volkswagen
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...from the French government for a desperation merger. Italy's Fiat, hit by a sharp decline in sales, is struggling to unload an inventory of some 345,000 unsold cars. Meanwhile, a variety of troubles have overtaken the largest auto manufacturer outside the U.S., West Germany's Volkswagen...
...were down a thumping 30% in the company's most important export market, the U.S., which normally accounts for a third of the company's production. Mainly because of the export disaster, VW expects to report 1974 losses as high as $210 million-the first deficit that Volkswagen has shown since it was revived after World War II. Lately, VW's six West German plants have been operating at 60% of capacity, and nearly 80% of its 109,600 West German work force has been laid...
...chauffeurs behind the lawnmower in nondriving hours. These days many servants are grateful to have any job. A wealthy Los Angeles contractor leaves his Rolls in the garage and the chauffeur in the garden when he visits a potential customer; instead, he drives his wife's beat-up Volkswagen to convey an impression of cost-consciousness...
...like dying stars, flare out before shrinking into lifeless lumps. American auto manufacturers are now investing abroad and exporting in an attempt to saturate the world market. This effort has been only partially successful, for American firms are losing international ground to newer, more dynamic companies like Nissan and Volkswagen. As American automakers explore abroad, they ignore their domestic obligations: urban small-car designs are pigeon-holed and monstrous recreational vehicles are forced forward; mass transit is suppressed while car use becomes more expensive and unpleasant; pollution control is ignored until the government threatens fines or hints factory shutdowns...
...awkward silence followed. It was broken only when the ex-Emperor protested, "We have served our people in war and peace." Minutes later, he was led out of his marble palace to a tiny blue two-door Volkswagen. The monarch who for years had been chauffeur-driven in a huge maroon Mercedes-Benz limousine could still not believe what was happening to him. "What? In there?" he asked incredulously. "Yes, in there," replied an officer courteously, as he pulled forward the front seat to enable his passenger to squeeze into the rear. As the auto pulled away, Haile Selassie turned...