STATE OF BUSINESS: Trouble in Detroit

The gloom, that has encompassed auto dealers around the country for several months settled in Detroit last week. This time it was not just the independents who were being hurt. Chrysler Corp., hard hit by the slow cleanup sale of its 1953 cars, laid off some 9,200 workers. Nash has already announced an eight-day shutdown to help dealers trim inventories; Studebaker is shut down until early next month; Hudson and Packard cut their work forces. Still unaffected are General Motors and Ford Motor Co., both of which are planning higher output of...

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!