Autos: That Luxurious Feeling

While the sales of compact, inexpensive cars are declining rapidly at one end of Detroit's price spectrum, sales of luxury cars—those with basic prices above $4,000—are doing better than ever at the other end. Benefiting from the consumer's urge to "trade up" in times of prosperity, the luxury cars are rolling along at a record 400,000 annual-sales rate, have raised their share of the market from 3.9% to 4.6% since 1963. General Motors' Cadillac, the long-established expensive-car leader, has set new sales records for 16 consecutive ten-day periods, this year had its best first quarter in history. Lincoln Continental is...

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