Word: volkswagen
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...VOLKSWAGEN will cancel plans to manufacture its cars in the U.S. because of high U.S. production costs. It will sell the $4,000,000 assembly plant in New Jersey it bought recently from Studebaker-Packard Corp. Volkswagen still hopes to boost its 1956 U.S. sales...
...Vatican, Germany's go-getting Automaker Heinz Nordhoff (TIME, Feb. 18, 1954) had a private audience with Pope Pius XII, a friend of Nordhoff's ever since the Pope was a papal nuncio in Berlin. Good Catholic Nordhoff presented His Holiness with a flashy new Volkswagen station wagon with a red body and black suntop...
GERMAN AUTO BOOM is slowing down as a result of new tariff regulations by other European nations, e.g., Belgium and Sweden. Two big German automakers, Borgward and Goliath, are laying off workers. Giant Volkswagen will cut to a five-day work week early next year...
...Adolf Hitler proclaimed Porsche a Nazi hero, commissioned him to design the Third Reich's famous "people's car" (Volkswagen). Porsche produced a design, but the Nazis, who built only 200, abandoned the project (after milking some 300,000 Germans for advance payments) and assigned Porsche to design weapons, notably the famed Tiger tank. In 1945, he was arrested by French troops and after a trial, jailed for two years as a war criminal...
Mechanics Mark. Porsche and his son Ferdinand Jr. launched their sports-car factory at Gmünd, Austria in 1949, with $50,000 in capital and a first model featuring a souped-up Volkswagen engine, produced only 50 cars in their first year. In 1950 they moved into a former barracks at Stuttgart, developed a series of hand-tooled, air-cooled engines that range today from 44 to 115 h.p., and expanded to the present line of 16 models. The elder Porsche died in 1951, but sales continued to climb under the direction of son Ferry, a square-faced...