TO HOLD CHEVROLET PRICES

The New York Times
August 8, 1916

President Durant Says Company Will Not Sell a $700 Car.

In connection with a denial of the widely circulated report that the Chevrolet Motor Company is shortly to market an eight-cylinder car for $700, W. C. Durant, President of both the Chevrolet and General Motors Company, said yesterday:

"In addition to the disturbance and annoyance which it causes to Chevrolet agents and dealers, perhaps the most serious effect is to convey to the public the impression that there is an absence of settled business policy governing the leading motor car manufacturers. Nothing is further from the real facts.

"The well - established motor car manufacturer, who has successfully passed the experimental period and has overcome the many obstacles which have existed and had to be met in the development of this important industry, has a well-defined, fixed policy, which is not easily influenced or subject to sudden change. Each company has a distinct individuality and adheres to carefully matured plans as to production and distribution to meet the requirements of the special price and grade field in which it operates. Schedules as to prices and production are outlined far in advance and are carried out as carefully and accurately as a mariner follows his chart.

"Sensational notices to the effect that a price-cutting war is imminent among motor car manufacturers are confusing, misleading and unfounded."