Business: Cars Down, Steel Up

Like a happy hot-rodder, the auto industry sped through 1955 leading the economy at a record clip. Last week, when the inevitable pause came, some, grown accustomed to the impossible, expressed alarm.

Chrysler Corp. furloughed 10,300 workers, while other automakers and suppliers made scattered layoffs or cut back overtime and eliminated Sunday work to get back on a normal workweek. All told, some 25,000 were idle in Detroit. Main reason: the 807,000 cars in dealers' hands are more than double the inventory at the same time last year.

American Motors' President George Romney, testifying in Washington, expressed some other ideas on...

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