More Cars Than Buyers

Widick, B. J.
May 1956
New Republic;5/28/56, Vol. 134 Issue 22, p11
This article reports that on the 10th of this month the stock market broke sharply on the news that General Motors Corp. for the first time in 10 years was closing its auto plants for one day. Later this month, Gov. G. Mennen Williams urged the Dwight David Eisenhower Administration to proclaim Detroit and five other Michigan cities as "distressed labor areas" that is, an area where more than six percent of the total work force is unemployed. The industry's remarkable performance in sales and production in 1955 dazzled the public and silenced most critics. Last year some 9,188,000 motor vehicles were produced, of which 7,975,000 were passenger cars. General Motors announced a fabulous profit of $1.2 billion.


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