In 1956 Ford led the way in announcing auto price increases, only to be forced into a rollback when General Motors followed with a less expensive list. After that embarrassing experience, Ford was pretty much content to wait until G.M. had set the industry's price standards.
This year, however, Ford again got out front on prices—and again had to back down. Two weeks ago, Ford announced an average price hike of $107 on its '67 models; Chrysler followed with a $92 increase. Both companies were dismayed when G.M. raised its prices by only an average of $53. Last week, therefore,...
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