Pricing is still a concern with consumers. We continue to see sticker shock. And the potential exists that with some cars in short supply, Detroit will take advantage of the situation with some big price increases this fall. What Detroit will do is drive some people into small or used cars instead. In the last three to four years, price increases outpaced income gains and pushed people into used cars. Pricing is the reason the recovery won’t be robust.
Wes Stuchlak, analyst with Chase Econometrics, in response to the upturn in sales in Summer, 1983; quoted in Chicago Tribune.
Sunday, August 28, 1983
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