CLASS OF 1973
The UK’s principal manufactures launched an array of new models 50 years ago that looked ready to conquer the world, while new European markets awaited. However, many would struggle to capitalise on this potential of this pivotal year for Britain
The UK joined the European Economic Community on 1 January 1973 – and it was going to have a profound impact on Britain’s car industry. John Beswick of the Society of Motor Manufacturers and Traders believed that the industry’s resilience would ‘bring great rewards to those who accept the challenge of the world’s greatest free trade market’.
Car markers hoped that membership would bring more sales opportunities in EEC nations to augment declining exports to Commonwealth markets. Yet direct import regulations against EEC-imported cars would be banned, with overseas-built cars now accounting for nearly 30 per cent of sales.
Datsun’s concessionaire’s six-strong press fleet introduced British motorists to the marque in 1968. Five years later, its annual sales were 50,000 with a customer-base who cared more about value for money than driving per se. The new Sunny 120Y looked set to enhance this success, being well-appointed, straightforward and reliable.
Meanwhile, Value Added Tax replaced Purchase Tax on 1 April. The Guardian reported in July how Gilbern was ‘the first of the companies who made car kits for home assembly to get into financial trouble’, since VAT removed the cost advantages of home construction.
Inflation was also at nearly ten per cent, and the Yom Kippur War on 6 October resulted in a global fuel crisis; British drivers faced the prospect of petrol rationing for the first time since the Suez Crisis.
The mood was not universally optimistic when the London Motor Show opened 11 days later and the government introduced stringent hire purchase regulations in December. Not surprisingly, 1974 saw a 30 per cent reduction in sales.
But the motor industry appeared upbeat, with the ‘Big Four’ – British Leyland, Chrysler UK, Ford, and Vauxhall –introducing an array of new models in 1973. These were the cars that would, they hoped, appeal to the mass market, raise their brands’ profile and at home, reduce imports to nearer 20 per cent. The question is – did they?
BRITISH LEYLAND
British Leyland chairman Lord Stokes announced a £500 million investment programme when BL staged its fifth birthday party at the Savoy on 14 May (almost 50 years ago to the day). Furthermore BL planned to increase annual car and commercial output from 1,100,000 to 1,500,000. The result would ‘have a dramatic impact on our international standing and competitiveness and of course, provide additi
