TO THE MEMBERS AND ADVISER MEMBERS OF THE COUNCIL ON WAGE AND PRICE STABILITY: 1977 AUTOMOBILE PRICES

by William Lilley on October 27, 1976
by William Lilley

 

In an effort to help the public understand better how the market is operating with regard to the prices of key consumer items, the Council has prepared an in-depth comparative analysis of the prices of 1977 model-year passenger cars. The report analyzes the following critical issues:

*how factor cost increases announced by the four companies differ from the Council’s estimates of actual cost increases;

*how cost increases incurred by the producers compare to their announced price increases;

*what factors influenced the domestic automobile industry in setting prices for the 1977 model year;

*how much prices were increased this year by each of the four companies;

*how the increases are divided between price increases for the base cars and price increases for an average array of optional equipment;

*how much price increases varied by size of car, and

*how announced increases in “suggested retail prices” compare to the increase in companies’ actual wholesale prices.

 

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