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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Sep 19, 1989
Page
11
New York AP reports that after a long battle buyers now drive pricing and service. The Delph analysis from Rand and the University of Michigan Transportation Research Institute suggests automakers will restrain prices, raise quality, and improve service as competition stiffens and market growth slows.
Researcher David J Andrea forecasts steady car prices through 2000 with US cars rising from 14000 in 1990 to 15000 in 1995 and 15900 in 2000 while imported 15000 vehicles rise to 17000. Dealers will grow in importance as staff, service, and customer conveniences expand. Lifespan for passenger cars climbs to 12 years by 2000. Big Three Ford GM and Chrysler must improve to keep share amid international competition.
McCormick & Co reports third quarter earnings to Aug 31 at a record level, 9 cents per share, including 12 cents from real estate sales. Food and packaging earnings reach TA cents per share versus 48 cents a year earlier. Nine month EPS hits $5.22 on gains, while stock repurchases and a quarterly dividend are announced. County-level jobless rates show Frederick at 3.1 percent, Carroll 2.6, Howard 2.5, Montgomery 2.5, and Washington 4.4 percent for July to August.
Washington AP reports Japanese automakers lead in fuel efficiency with tiny compacts reaching up to 55 mpg combined, while expensive European models dominate the gas guzzler list. The EPA's 1990 model car tests show Geo Metro XFE at 55 mpg and Lamborghini Countach at 6 mpg city, with US made Ford Escort at 38 mpg.
A national ABA survey of 453 banks shows the average outstanding balance at any time around $1175 to $1201, up about $100 from 1987, with 35 percent paying balances in full monthly. About 43 percent of banks charge over-limit fees, and annual fees average $15 to $17.
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