Word: volkswagen
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...have any feeling ofaccomplishment about anything unless there's a lot of risk to it," says Mario Andretti. He was already racing automobiles-90-m.p.h. Formula Juniors-in Italy at an age when no state in the U.S. would have given him a license to drive the family Volkswagen: 13. "I was crazy," he agrees, now that he is 27. "None of my relatives even knew what I was doing except my old priest uncle, and I had him hiding it because I told him in confession so he couldn't tell...
...plant, U.S. occupation authorities restricted him to manual labor. The more pragmatic British tapped him to revive a Wolfsburg auto factory which had been so badly bombed that, Nordhoff was later to recall, it "didn't even smell good enough for the Russians." That plant had once built Volkswagens, and Nordhoff's success in getting it back into gear has become a legend (TIME cover, Feb. 15, 1954). By last week, when he announced that he would retire as board chairman, Wolfsburg had become horns base for West Germany's biggest industry. Volkswagen ranks fourth behind only...
Less than Perfect. Nordhoff is leaving Volkswagen because he turned 68 in January, an age, he said last week, when "it is not only customary but even a compelling need to think in time about one's successor." The years, unfortunately, have overtaken him at a moment when Volkswagen-like the Wirtschaftswunder itself-is performing at less than capacity...
West Germany is in a serious recession, and consumers are sitting on their pocketbooks. Volkswagen domestic production has dropped 25% from 1966's record high of 1,476,000 vehicles. Like U.S. automakers, the company has been hit by the safety scare. In the mini-motor field, which its beetles long dominated, VW is getting serious competition from General Motors' Opel and the German Ford. Nordhoff has been fighting the pinch with stepped-up exports and a new, cheaper ($1,121) 41 h.p. Model 1200 that he christened Wirt-schaftskrise Kafer, or "economic crisis beetle." With all that...
...from home appliances to locomotives. Within twelve years, Lotz rose to chairman. He and the Swiss fell out over a small computer company in which he had invested to compete with U.S. computer makers, only to have it lose money. Lotz, as a result, decided to go job hunting. Volkswagen's directors offered him the $250,000-a-year post as Nordhoff's successor...