Word: yugo
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Although a Yugo can be had for less than $4,000, making it the cheapest car in the U.S., its fortunes have been flagging. Americans bought only 43,000 of the glitch-prone subcompacts last year -- well below predictions made when the two-door hatchback was first imported from Yugoslavia in 1985. Now a consortium organized by the Mabon, Nugent investment firm in New York City has paid $40 million to gain control of Yugo America and has promised to spend $40 million more for a campaign to tout new models...
This fall the company will introduce a convertible (base price: about $8,000). It and all current Yugos will be backed by perhaps the most generous auto warranty ever. During the first year, all parts and maintenance, from routine oil changes to not-so-routine repairs, will be free. Next year a sleek four-door model will be available. Yugo officials say it will be snazzy and dependable. Says Senior Vice President Tony Ciminera: "You won't even know it's a Yugo...
...ties with the East Germans. Given that the missiles accelerate from 0-to-Mach 1 in an average of 30 seconds, the new line of East German cars should blow the BMW's off the Autoban and improve the self-image of socialists, whose last automotive offering was the Yugo...
When Yugoslavia's Yugo invaded the U.S. in 1985, Americans got their first chance to test the workmanship of a Communist automaker. The reaction so far has been lukewarm, but now another East European country is preparing an assault on the U.S. market. Auto-Dacia, Rumania's state-run car company, plans to introduce its Oltcit, Aro and Dacia models this spring. That could start a price war among comrades. The Oltcit, a three-door hatchback, will go for $3,980 -- $10 less than the cost of a Yugo...
...opposite end of the price scale, South Korea's Hyundai Excel has made a dazzling debut. The $4,995 subcompact has sold more than 130,000 units so far in 1986, a record for an imported auto's first year. Much less ; successful was the invasion of Yugoslavia's Yugo, a remodeled Fiat that sells for $3,990 and is billed as the cheapest new car in the U.S. The monthly Consumer Reports urged its readers to buy a good used car instead. So far in 1986, fewer than 28,000 Yugos have been sold...