Autos: Buying Up but Selling Down

"There said is a pause in the auto market,"said Ford Motor Group Vice President Lee Iacocca last week.

"There's uncertainty about a tax increase and the Viet Nam war — but there's nothing to get alarmed about."

There was nothing for the automakers to get very happy about either.

Compared with the equivalent periods of fabled 1965, sales of the new models were off 6% in October and 5% in November's first ten days. Detroit in siders estimated that fourth-quarter production will decline from last year's 2,600,000 to 2,400,000. American Motors scheduled production cutbacks,...

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