STATE OF BUSINESS: Facts & Figures, May 2, 1949

Agile Austin. On the Indianapolis Motor Speedway, an Austin convertible set a new U.S. speed record for open stock cars, a mark most auto makers are not interested in. Despite several stops for repairs (see cut), the Austin covered 11,850 miles in seven days, for an average speed of 70.54 m.p.h. (old record: 68.58 m.p.h.). A few days later, the Austin Motor Co., Ltd., did something U.S. automakers were interested in. It cut prices $1,000 on the record-setting model. The new price: $2,795 with a manually operated top, $180 more with a hydraulically operated top.


Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!