Business: Confidence in Cars

Only one major segment of the economy has yet to turn around: car sales. Last week President Lester Lum ("Tex") Colbert showed off Chrysler Corp.'s new line, predicted that the industry's calendar 1959 sales will rise to 5,500,000 or 6,000,000, well above calendar 1958's estimated 4,600,000. But even optimistic Tex Colbert felt that buyers are not yet as enthusiastic as the industry would like. Said he: "People still show some tendency to wait for further signs of recovery before taking on new obligations." To loosen consumer purse strings, Chrysler spent $150 million to face-lift its cars, installed a swivel front seat...

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