January 6, 1990 - A new decade has begun. The 1980s were very good for Nassau. We came into the decade with 3 model lines, all carburated, and all but 1 rear wheel drive. Our most powerful car was a V8 produced 170hp. CAFE mandates were just coming into affect and our fleet average at the time was 19.03mpg.
It’s now 10 years later. We introduced our 5th model line, a small SUV/pickup, last year. It is our only rear wheel drive model as we’ve switched all of our cars to front wheel drive. Thanks to our engineering department, we’ve switched all of our cars to electronic fuel injection. We’ve actually started introducing multi-point injection on some of our upper level models. Our most powerful car for 1990 produces over 230hp and will outrun everything we’ve ever built. We’ve seen our CAFE average jump to over 25mpg.
But enough about our history. Let’s see how Nassau fared in 1989.
This year we made a profit of nearly $600 million on $8.8 billion in revenues. Our total sales were up over $1 billion from the previous year. The desirability of our new cars helped increase our prestige by 2 points.
All of this is occurring as the economy begins another contraction.
The addition of the Bandito model line helped make this Nassau’s best year ever in terms of sales. Better production scheduling helped ensure we didn’t run out of _Accolade_s before the new model hit dealer lots.
Total sales for 1989 rose to 755,662, which was our best year ever. Our previous best was 1984, when we wold 724,990 cars. Sales were up in all three major markets as the 2nd generation Tango has become a sensation.
337,504 - Gasmea (+25%) - Top Seller: Tango S
275,193 - Fruinia (+13%) - Top Seller: Tango S
142,965 - Archana (+6%) - Top Seller: Nifty Deluxe
Sales of the Nifty hatchbacks were steady this year as we again sold every car built. Total sales were 147,831.
The Nifty S sold 69,047 units, which was the same as last year.
The Nifty Deluxe sold 78,784, which was one car fewer than last year.
Sales on the Tango model lines exploded this year. Total sales are still below 1980-1983 levels, but we’re nearly selling out due to the complexity of producing the more modern car. This year sales totaled 398,837.
The base model Tango R performed very well, selling 128,778 units.
The 1989 Tango S became the best selling model in the history of the company, recording 270,059 sales this year.
The second generation Laguna sport compact debuted for 1989. Sales were good, as 107,929 hatchbacks sold.
Sales for the base model, which this year becomes the Laguna S were down considerably over the previous generation. We sold 68,043 units, which is around half of the sales of the Laguna Coupe.
However, the Laguna Turbo, which was extensively overhauled following a disappointing run from 1984-1988 saw sales boom. We sold 28,916, which is just 2k shy of the total sales of the first generation car.
We expected the top of the line Laguna NP to have limited sales, so when the final numbers were tallied and we had sold 10,970, we were ecstatic. We figured we’d have around 5,000 takers.
The Bandito also debuted for 1989 and is our first entry into the SUV market. Even with very little market awareness for the new car, we managed to sell a total of 54,239.
The Bandito S SUV led the charge, racking up 30,959 sales.
Our first pickup since the failed Runabout; the Bandito Pickup took home 23,280 sales. We expect this to increase as more people become aware that Nassau builds SUVs.
Finally, we come to the outgoing first generation Accolade. Sales dropped off this year as we expect consumers are waiting for the new model for 1990. Sales across both model lines totaled 46,826.
The Accolade SE sold just 16,957 units. There are still a couple hundred sitting on dealer lots.
We’ve sold the final 29,869 _Accolade Estate_s.
270,059 - Tango S (+13%)
128,778 - Tango R (+30%)
78,784 - Nifty Deluxe (-)
69,047 - Nifty S (-)
68,043 - Laguna S (-12% from the Laguna Coupe)
30,959 - Bandito S (NEW)
29,869 - Accolade Estate (-31%)
28,916 - Laguna Turbo (+771%)
23,280 - Bandito Pickup (NEW)
16,957 - Accolade SE (-40%)
10,970 - Laguna NP (NEW)
As Nassau prepares to enter a new decade, Robert Gaul has begun planning for his retirement. He took over the company his father founded in 1960 at the age of 30. Now, 30 years later, Robert has called his company leaders into his office to announce his succession plan.
Robert plans to retire in 1995, at which point his son, the current head of product planning and development Charles Gaul, will take over.
You may be thinking this is nepotism at work, but Charles has built quite the reputation at Nassau. Charles was born in 1958 and joined Nassau’s engineering department in 1980. During his time as an engineer, he helped create Nassau’s electronic fuel injection systems, which are now used on every single model we make. He was the leader of the team that created the 2nd generation Laguna. In 1988 he was promoted to head of product planning and development, where he helped spearhead the creation of the Accolade Sport, which is just coming on to the market. He also had his hand in the development of other Nassau vehicles, which are still in engineering.