Automakers ring up near record profits, but imports still gnaw at them
One year ago, the U.S. automobile industry was like a car lurching on flat tires. Detroit was emerging from the third year of a depression that slashed auto sales to their lowest level in two decades and cost car manufacturers $5.5 billion in losses during 1980 and 1981. But the Big Three automakers have rebounded so strongly that they are now within reach of record profits. General Motors, Ford Motor and Chrysler together earned $2.9 billion in the first half of 1983, and...
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