Sponsor (Oct-Dec 1962)

Record Details:

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A growing number of models from each manufacturer Competition is rising along with the parade of new models. Chevrolet's '63 products include four lines: Impala Sport Coupe (bottom); Chevy II 4-door Sedan (lc); Corvair Monza (re), and the Corvette Sting Ray. Chevrolet has 33 passenger models Among car companies of all complexions, feeling is running high at this time of the year. Lee A. Iacocca, Ford Division vice president, points to the rate at which cars are being scrapped, a rate that is approaching 5 million a year. "That's a considerable base," he states. "Add normal growth and you have at least a 6.25 million car year." And Thomas A. Coupe, American Motors vice president, predicts that car sales will average 6.8 million a year for the next four years." Industry is healthy. As car makers dig in for the big push on their 1963 lines, they have these comforting facts to guide them: • October production is expected to be the biggest in history. Goal is at least 700,000 cars. This would be 150,000 more than in 1961 and 85,000 more than in 1960. • Healthy clean-up sales of 1962 models have cut sharply into inventories and have strengthened pros pects for continued high production. Preliminary estimates show that only about 250,000 of the 1962 models remain in stock. Observers feel that is low enough not to disrupt sales of 1963 cars. • At the end of September, total car output for the calendar year was 4,881,103 compared with 3,686,360 for the corresponding period a year ago. • The used-car market is stronger than it has been in many years. Sales are running at least 7% ahead of last year. • The retail credit picture is also healthy. In 1961, repayments exceeded new loans and Detroit believes that lenders still have some of the reserve they built up then. There are two other consideiations about which car makers can only speculate on at this point but which have a direct bearing on the optimistic predictions for the coming year: (1) public reaction to the 1963 models and (2) that sensitive imponderable — consumer confidence (the stock market, employment, the world situation— one way or another— will add their salt to the final outcome). Competition is tougher. But industry outlook aside, car makers individually are joined in a tough competitive struggle. And the firms which will gain an edge on others in the competition may well be those who re-evaluate and re-align their advertising strategies to conform to new marketing necessities. A major broadcast representative, Adam Young, Inc., recently made an exhaustive study of automotive problems and solutions as they relate to advertising— in particular, to spot radio. "In light of the brand-by-brand competition, the major job that radio can perform for car companies is an intensive, year-around sales job that companies can afford," declares Adam Young, president. SPONSOR/22 October 1962