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Ford price increases draw fire from Cost of Living Council
Ford Motor Co raised prices on 19M model cars and trucks by an average 163 dollars, the second automaker this month to anger the Cost of Living Council. Council Director Bunlop called the move unwarranted and said it violated a voluntary late 1979 price restraint. Ford defended the rise as needed to cover unprecedented cost increases and noted it followed December commitments to curb wholesale boosts. GM and Chrysler reacted in varied fashion while American Motors rejected further hikes. Auto sales tumbled 26 percent year to date, with profits down as costs blamed for earnings decline.
MENTIONED IN THIS ARTICLE
Detroit
Ford Motor Co
Cost of Living Council
Council
John ‘Jt
Bunlop
Bullord
Ford
John B. Naughton
General Moors
American Motors
Shall
Chrysler
Crilivisit Sra