Sales Boom of 1984
Industry Rebound from 1970s Energy Crisis
After nearly a decade of upheaval, the U.S. auto industry is posting record profits. Americans are on a carbuying spree this year, reflecting their increased purchasing power. Interest rates, still high in relation to historic levels, are lower than they have been in recent years and—according to most forecasters—than they will be in the near future. Consumer preferences are also changing. With the current oil glut and falling gasoline prices, many car buyers seem to have all but forgotten the mile-long filling station lines of the late 1970s. U.S. auto makers report they are unable to keep up with the demand for their largest, most powerful and least energy-efficient models.
The sales boom comes as the deadline ...