Business: The People's Choice

Ford Motor Co. this week unveiled its second entry in the compact car market and the sixth U.S. compact car: the Comet. Planned as the successor to the defunct Edsel, the Comet is longer (wheelbase: 114 in.) than most other compacts, will sell at less than $100 above the Falcon. Ford hustled to get it out because the compact car market is proving to be the hottest thing that has happened to Detroit in years.

Detroit underestimated the compact market, is stepping up production in a race to meet demand. Compacts now account for 25% of U.S. auto production, helped push output...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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