Out with the Old Year, On with the New

Of the U.S.'s 1966-model autos, only the Mustang is still on the production line--and Ford would just love to keep that hot little item going forever. As for the rest, 1967s are now being phased in, and Detroit is breathing a huge, collective sigh of relief.

With all the Nadering about auto safety and the effects of tight money, overall sales and profits fell off during 1966 as compared with the same seven-month period last year. General Motors was the big loser, partly because it handled the safety squabble badly and partly because, with more models than anyone else, it had merely face-lifted, instead of restyling. Its January-July unit sales dropped from 2,829,527 to 2,610,696. This more than offset slight gains by Chrysler (up from 818,977 to 837,391, thanks mostly to its "intermediate"-sized Belvedere and Coronet) and by Ford (up from 1,438,247 to 1,439,620, almost entirely because of the Mustang). Profits were down: G.M. reported its second-quarter figure fell 14.6% to $546 million.

All this was quite relative. The 1966 model-year did not live up to hopes, but it was a poor year only in the sense that it did not break the alltime records set in 1965. It will still stand as the second-best model-year in history.

As the 1967 models were starting to pour off the production line for September delivery, automakers hoped for increased sales, if only because they figure that a lot of buyers have held off in expectation of new safety features. Detroit does not look for another profit downturn, mostly because, with or without Lyndon Johnson's approval, it intends to increase prices.

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