CBS Evening News for Friday, Mar 12, 1976
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(Studio) Auto insurance companies raise premiums due to high cost of replacing parts. Independent repair shops charge Detroit raised prices to drive them out of business
REPORTER: Walter Cronkite
(DC) Big 3 auto mfrs. refute charges of price manipulation. [Chrysler, C.W. JOINER - says charges untrue.] [Ford company, Philip BENTON - says parts prices reflect cost changes and not out of line with other price changes.] [GM, Michael MEEHAN - says incrd. General Motors Corporation prices not out of line with many economy price increases] General Motors Corporation says it has incrd. crash part prices 7% per year for 4 years Ford company incrd. prices 6% per year; 12% for Chrysler. Govt. inflation rate is 8.8%.
REPORTER: Nelson Benton
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