B8 - - Wednesday, July 29, 1981 - North Shore News DESPITE-GAINS m DETROIT (UPI) - With one eye on the prime rate and other economic sign- posts, ‘U.S. automakers are waiting nervously to see if| their second quarter gains e. Tune-Ups e: ‘Brakes . 'e Carburetion e Exhaust system e General maintenance Let me be your personal mechanic 830 W. 1st St. Just southeast of Woolco. 988-5010 cers ne yf collapse a general economic malaise. Chrysler Corp., which hailed an $11.6 million second quarter profit as a strong sign of its return to health, has the biggest stake in the outcome of the on- going drama. Auto industry. and analysts “picture: Chrysler:at a cross- “@--roads - poised to:gain.sales and financial strength, but only if’ the ecomomy « ‘im- ‘Proves. jous al Chrysler i isn’t alone. Each domestic auto company is puzzled and disturbed by the latest sharp sales downturn that began in mid-June after a period of steady recovery. Each could pay a price in _ the third quarter unless there is.a substantial turnaround. David Eisenberg, senior auto analyst for the Wail Street ‘investment firm of. Sanford _C. Bernstein & Co., said “Chrysler's position’ . “remains tenuous” despite its “long -stting--.of - sales cand 40 years experience. “TAYLORMOTIVE IS BCAA APPROVED HOME OF THE AUTOMOTIVE SPECIALISTS Qualified technicians in each field. ‘Many with 20 - ¢ AUTOMATIC TRANSMISSIONS ¢ COMPLETE GENERAL MECHANICAL - e WHEEL. FRAME ALIGNMENT & BALANCING & e COLLISION REPAIRS — ° BAKE OVEN PAINTING FREE CONSULTATION « ALL WORK GUARANTEED TAYLORMOTIVE 174 PEMBERTON. N. v. OUR:21ST YEAR OF CUSTOMER SATISFACTION GM Service Centre TRY US! .... TRY OUR SYSTEM! No Appointment Necessary No Waiting .. 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We think you'll like our system PONTIAC- -BUICK - GMC TRUCK 1375 Marine Dr., North Vancoaver production i improvements. “If economic conditions improve over the next 12 months, theyll make it,” Eisenberg said. “They've got a credible forward products program with good coverage. Fixed costs have been dramatically reduced, too. All they need is an improving economic climate - because they've got the hardware.” Not. all the are available yet, but each of the domestic - . automakers. managed to improve its financial performance in the second quarter, Car. production was fairly strong, because of the’ need ~ to replace dealer inventories: depleted by rebates and to build stocks for anticipated sales improvements during the summer. out sales | to o profitability Second quarter ‘sales up By JAMES V. HIGGINS ‘UPI AUTO WRITER DETROIT (UPI) -. Ford Motor Co., which suffered $2 billion in losses in a string of six unprofitable quarters, returned to the black, in the April-June period this year- with earnings of $60 million. The second-quarter triumph. ‘represented a -éramatic:turnabout fromthe ‘same ‘period last year;when_ _ Ford lost.$468 million. Ford Chairman Philip Cakiwell said. Thursday the ‘company not only weathered the spate of record. losses, but even-was able to triin its “debt by $640 million in the first half of 1981. “The last two yéars have been among the most dif- ficult in history for U.S. automotive manufacturers,” Caldwell said. “Despite the economic and financial problems experienced in this period, Ford’s financial pro- bDlems experienced in this period, Ford's financial .returned to Chrysler had net-earnings of condition and = capital structure remain sound.” Ford said its ailing domestic operations - largest source of its losses over the past two years - turned around in the second quarter with profits of $82 million. That Was partly offset by losses of $22 million outside the United States that Ford blamed mostly on unfavor- ‘able , currency exchange “pates: . utes : £ The auto. industry’ s .im- proved fortunes in the second quarter were reflected in the fact each of the big three ‘automakers profitability . $11.6-million in the period. General Motors Corp. has not announced its results, ’ but analysts say it will show a substantial profit. Caldwell said his com- pany’s profit reflected cost- cutting measures and im- proved demand for Ford products. It was achieved, he said, “despite continued weak industry sales of cars and trucks in many of the world’s major markets and a sub stantial one-time loss from changes in currency ex- change rates.” Caldwell conceded car and truck demand remains depressed.. “Return to an acceptable level of profitability... will depend importantly on recovery in overall industry demand both in the United States and abroad,” he said. Auto Body Repairs What To Do? Phone: 980-7075 And Relax!! © We'll Pick Up Your Problem Car or Truck © We'll Repair Your Vehicle © We'll Handle Your ICBC Forms © We'll Deliver Your Repaired Vehicle Back To You @ We'll Only Charge You The Deductible Oh! And we'll provide you with a free courtesy car as well!!! 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