Detroit Plays Down A Miniboom

The Big Three report a profitable first quarter but avoid gloating

FOR THE FIRST TIME SINCE SUFFERING COMBINED losses of $13 billion over the past three years, the Big Three U.S. auto manufacturers have each begun to show signs of a rebound. Following a dazzling string of showroom hits that increased sales this year by 25%, Chrysler reported first-quarter earnings of $530 million. Ford's gains have been steadier, but it still managed to double analysts' predictions with net earnings of $572 million. Even General Motors turned a financial corner with quarterly profits of $513 million. Still, all three companies tempered their reports with downbeat expressions of caution. Ford's chairman, Harold A. Poling,...

Want the full story?

Subscribe Now


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

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!