CAR SALES

The auto industry sold more than 3,700,000 cars in the first six months of 1963, slightly below the 3,781,000 cars sold in the opening six months in 1955, but better than any other year in history. With the first half under its belt, the industry is in a good position to achieve a 7,000,000 car sales year.

 

TAX DEDUCTIONS

The House Ways and Means Committee, considering federal income tax reforms, has tentatively approved a measure which would end the deductibility of state and local taxes on gasoline, auto tags and drivers' licenses for those taxpayers who itemize deductions on their income tax returns. The Treasury Department is reported to have approved the proposal.


STUDEBAKER OFFER

Automotive Fleet learns that Studebaker Corp., in an effort to attract more fleet business, will offer fleet purchasers free Scotchlite decals beginning with 1964 models. For companies buying on a volume basis, the offer will include a complete Scotchlite package.

 

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