B6 - Senday, April 11, 1982 - North Shore News EE 200 Ford loses moneyagain OAKVILLE, Ont. (UPC) - Ford of Canada Ltd. released its annual report Monday, announcing a consolidated after-tax loss of $98.9 million for 1981 - a loss almost twice as large as the company suffered in 1980. This loss occurred despite a $798 million increase in sales over 1980. Company president Kenneth W. Harrigan said 1982 will be a challenging year for the auto industry but he is confident Ford will experience growth. “It is my belief that 1982 will provide the solid foundation which will support the growth I am confident lies ahead for the company,” Harrigan said. Total industry sales of cars and trucks declined to 1.2 million in 1981, down 6.3 per cent from 1980 and 15 per cent from 1979. “High interest rates and concern about the economic environment have caused the buying public to remain generally resistant to pur- chasing vehicles,” he said. “Had it not been for the variety and number of marketing programs in- troduced, vehicle sales would have been even more depressed.” Harrigan said Ford's product development program will produce an increasing number of high technology cars and trucks. WHOEVER owns this Model A Ford Roadster with rumble seat has done a good job of restoration. (Elisworth Dickson photo) Detroit gets auto race DETROIT — The Detroit Grand Pnx auto race June 6 is expected to bring a much- needed cash infusion to Detroit, which has been especially hit by the economic troubles of the auto industry. Some experts have estimated the 175-mile race featunng the world’s most expensive and exotic racing cars over a 2.5 mile course in the downtown area will bring $3.4 million into the city, but Mayor Coleman Young thinks that estimate “may be on the low side.” The race marks the [first time Formula One Grand Prix cars have ever appeared in the Midwest. The 16-race Grand Prix circuit each year is held on four continents FREE COURTESY CARS For ICBC Claims Zz ae Net ao ¥ SE