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Major auto companies see profits slip as compact cars rise
United States auto makers report higher sales for the first six months but lower earnings. General Motors Ford and Chrysler posted increased sales with reduced profits, while Studebaker Packard and American Motors showed mixed results amid a shift toward compact car production and lower margins. Ford set a new sales record for three months ending June 30, while GM’s six month numbers reached 7.1 billion in sales with earnings down from the prior year.
MENTIONED IN THIS ARTICLE
Jack Vandenberg
Ford
Studebaker - Packard
American Motors
Fords
General Motors