Press neport
Studebaker Corporation has onded all production in the U.S. from tho boginning of 1964 as a result of fierce competition in the U.S. car industry. It has closed down its plant in South Bend, Indiana, and will continue production on a roduced scale in its plant in Tanilten, Cntario, Canada, where wazes are 20% lowor than those in the U.S. At loast 7,000 people in Scuth Rend have lost their jobs. Cfficials from Indiana admitted that the shutdown of this plant would eventually throw about 10,000 people out of a job in this county, raising the level of uneomp loy ment to 11%. Many of the workors aro in thoir 50s, so there is almost no hope cf thoir finding another jcb. Furthermore, they are setting no redundancy paymont, even though many of then have worked for the firm for thoir entire working life.
Since the first car was produced in the U.5. £0 years agC, some 1,850 U.S. car firms have gone out of business, unable te make competitive grado. Two of them, Packard ond Kaiser, wero closed down after the second world wer. Studebekorts departure Icaves the U.S. with only four major car firmss General Motors, Ford, Chrysler, and fmorican ‘fotors,.