Business: Too Many Cars?

To the automakers, now enjoying their biggest year in history, the future looks bright indeed. They see a constantly expanding market. To meet the increased demand for cars, General Motors President Harlow Curtice last week announced a $500 million expansion program, G.M.'s third major expansion in 18 months. It brought to $4 billion the company's postwar investment in U.S. and Canadian capital improvements. (Only two months ago Ford boosted its $1.7 billion postwar expansion program by $625 million; Chrysler is spending an estimated $625 million for expansion.)

G.M. will build a new 1,776,000-sq.-ft....

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