Going from Bad to Even Worse

Heavy Detroit losses, as car sales continue to drop

David Jensen, 38, a real estate broker in West Bloomfield, Mich., has traditionally bought a new car every two years. He purchased his fully equipped Lincoln Town Car for $13,000 in 1979. Last week Jensen returned to his dealer's showroom to eye the new Continental, but he quickly became another victim of what Detroit calls "sticker shock." The price on the car's window: $25,692. Says he: "Damn, that is expensive! It persuaded me to keep driving my '80 until it won't go any more. Then I'm going to buy a down-sized car."

Jensen's...

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!