Yugo has plans for sporty car

Press, 6 February 1986, Page 18

Yugo has plans for sporty car

NZPA-ReuterNew Orleans Yugo of America said it would import a new "sporty” version of its Yu-goslavian-built small car beginning in June and offer it as a companion to its basic model, whose SUS399O ($7620) base price makes it the cheapest new car offered in the United States. Yugo’s president, Mr William Prior, whose company began imports from Zastava, of Yugoslavia, last August, also defended his car against a recent negative review in the prestigious magazine “Consumer Reports,” which concluded the Yugo-GV was among the least desirable cars it had tested in recent years. “We’re disappointed, but they’re only one buyer out of 7000 who bought the car,” Mr Prior said. “It’s not affected our mor-

ale at a 11... we’re treating it like a customer complaint.” The company announced the new “sporty” Yugo GVS model that would be sold at a suggested base price “under 5U54800 ($9168)”.

Yugo has already said it planned to import 40,000 cars from its Yugoslavia factory in the current model year with targets of 75,000 in 1987 and 110,000 in 1988.

The company’s vicechairman, Mr Ira Edelson, said Yugo had committed SUS2O million ($38.2 million) to Zastava’s SUS 432 million ($825.12 million) factory expansion programme with the money to be raised through a public offering of Yugo America Inc stock to United States investors in April or May. 4-