Autos: Chevrolet Runaway

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As Detroit assembly lines began to close for the annual model changeover, U.S. auto production in 1962 reached 4,000,000 cars—nearly 1,000,000 ahead of the same time last year. Lion's share of this booming market has gone to the standard-sized Chevrolet, which is rolling toward sales of 1,000,000 1962 cars this year. Ford, which usually runs neck and neck with Chevy, is far behind, with production of its standard-sized Galaxie barely topping 400,000. (Counting all models, Ford has produced 842,000 cars since January, v. 1,300,000 for Chevy.) At the bottom of the heap among the Big Three is Chrysler, whose production of four low-priced lines (Plymouth, Valiant, Dodge Dart and Lancer) adds up to only 288,000 cars so far in 1962—just ahead of the 282,000 Ramblers produced by American Motors. But despite its reduced share of the auto market, Chrysler still had cause for rejoicing last week. Thanks largely to lower costs achieved by closing plants and slashing payrolls, it reported profits of $11,900,000 for the first half of this year, v. losses of $15,700,000 for the same period last year.