CAMPAIGN ’88 : Iacocca Backs Point of Gephardt K-Car Ad

With Chrysler Corp. chief Lee A. Iacocca at his side, Missouri Rep. Richard A. Gephardt on Monday defended his Democratic presidential campaign’s “$48,000 K-car” television advertisement, saying critics are missing the point.

Gephardt spent the day campaigning across Michigan, speaking to law students at the University of Michigan in Ann Arbor, visiting a steel mill in Trenton and meeting with Iacocca in Highland Park.

Gephardt, who has called for removal of foreign trade barriers, brushed aside suggestions that his K-car advertisement inaccurately claimed that the $10,000 Chrysler car would cost $48,000 in South Korea. Asked if the figure was correct, Iacocca said Gephardt has the point correct, whatever the details.

Gephardt said the ad was designed to educate voters to the problems created by foreign barriers to American products.

“The Hyundai ad is simply to get them to see what we face,” he said.

Iacocca said: “Dick’s a good friend of mine and he knows what he’s talking about on trade,” but did not offer an endorsement.

Gephardt said he must win Michigan’s caucuses Saturday to keep his campaign alive. Some political analysts have noted that he faces a March 29 deadline for filing to retain his congressional seat.