¶ Dynaxion Car
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Index Entry
Dynaxion Car:
“The car is still on display in the Chicago museum… Walter Chrysler tried to market the idea. But banks with large amounts of capital tied up in financing used cars, bucked it. In the 1930s banks figured you had to sell five old cars to finance loans on each new one. The banks argued that if you advanced the technology of a new model too fast, you reduced the value of secondhand cars. The whole banking system would go bust. It wasn’t a conspiracy. Walter Chrysler found he had to make very slow advances. He just couldn’t do it.”
¶ Citations
- RBF to Susan Watter in W (Women’s Wear Daily); 13 May’77
