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Auto makers stagger as rates choke industry nationwide
Stagnant economy and interest rates over 20 percent slam U S automakers and dealers. About 7 percent of U S dealerships failed in 15 months, with 1,607 U S makes and 221 imports closing in early 1981. High borrowing costs force inventory loans, trimming sales and prompting dealers to cut inventories and boost service and used car efforts.
MENTIONED IN THIS ARTICLE
Detroit
America
C.J. Thorstad
Madison
Wis
Wisconsin
Thorstad
Auto Industry Journal
Automotive News
U.S
Robert McElwaine
American International Automobile Dealers Association
General Motors
Ford
Chrysler
American Motors
McElwaine
John Walters
National Automobile Dealers Association
Bob Mallon
Tacoma, Wash
Mallon