The moneyed and often enigmatic U.S. consumer will buy considerably more cars in 1959. In its annual survey of consumer buying intentions last week, the Federal Reserve Board reported that 7.6% of those interviewed said they would buy a new car this year, v. only 6.9% in recession 1958. On that basis, FRB expects sales between 5,000,000 and 5,500,000, v. 4,200,000 cars sold last year.
February production of 478,000 cars was a jump of 22% from 1958's low level, yet nearly 100,000 units short of both 1956 and 1957. The comparison can be misleading, since suppliers' strikes have braked output, notably at...
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