SELLING & MARKETING: Certified Price Tags

SELLING & MARKETING

To end the “price pack” which pads the cost of new cars with phony charges, the auto industry last week got some help from the Senate Commerce Committee. It voted to require manufacturers to stick a “suggested” retail price on each car delivered. Sponsored by Senators “Mike” Monroney and Strom Thurmond, the bill also requires automakers to list suggested prices for optional equipment and accessories, calls for fines of $1,000 on each untagged car, $1,000 for each misleading label. The bill, backed by Ford and General Motors, must now clear the full Senate and the House before it can go to the President.