High Gear

Although automakers turned out a record of almost 5,500,000 cars & trucks in the first ten months of this year the demand for cars is still near the top. After a consumer survey, the Federal Reserve Board predicted that there would be peak auto sales at least until the middle of 1950. One reason is that more people can afford autos than prewar. Explained FRB: while the retail price of the three leading lowest-priced cars went up an average of 65% between 1941 and early 1949, U.S. family income increased more than 100% (from $1,500 to $3,100) in the same period. On top of that, said FRB, some 20 million out of the 27 million autos on the road are prewar models, which should indicate a big, steady demand for replacements.

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