Autos: Payoff

American Motors' scheme to reward its customers when sales are good seemed to be paying off last week. During the first part of December, in a slipping auto market, sales were only 1.7% above the 1959 rate. After President George Romney announced at midmonth that a $25 U.S. Savings Bond would go to car buyers during a four-month period for every 10% increase in sales over the preceding year, sales shot up, finished 15.9% over December 1959. Last week American Motors began sending out $25 bonds to 34,971 car buyers. Among the recipients: General Motors Corp., which had purchased...

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!