Word: volkswagens
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Dates: during 1970-1979
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...Chrysler-VW merger? "There is not a shred of truth in these reports." -A Volkswagen executive...
...episode was touched off by an article in the Detroit-based weekly Automotive News, the bible of the U.S. auto industry. It asserted that Volkswagen's directors had approved a takeover bid that would pay $15 a share for Chrysler stock...
...notion of a Chrysler-Volkswagen combination seemed plausible, at least superficially, because of the ties that exist between the companies. They are currently renewing a contract under which Volkswagen has been supplying 300,000 engines annually for Chrysler's Omni and Horizon subcompacts, its only two brisk sellers. The two companies also have jointly run an auto plant in Brazil, and Volkswagen makes its popular American Rabbits in a Pennsylvania plant that once belonged to Chrysler...
...promoted fiveyear, 50,000-mile protection plan has not done much to move Chrysler's top-heavy line of big cars out of the showrooms. Sales of the Omni and Horizon compacts have almost doubled since last year, but their production is limited because of a contract with Volkswagen, which makes the engine and produces only 300,000 a year...
...scarcely alone in using this loophole: not one of the 335,000 pickups imported last year was taxed at the full truck rate. The 25% levy, introduced by Congress in 1963 in retaliation for a European tax on American chickens, was originally designed to hit imports of the Volkswagen Transporter, which is no longer produced. Successive administrations have let the tariff go unenforced, and this is not likely to change, despite a General Accounting Office estimate that about $600 million in truck import taxes have been lost since 1971. Reason: U.S. automakers are playing the customs game alongside the Japanese...