AutoNation To Slash Orders
AutoNation to Slash Detroit Orders
Cut of 30% May JeopardizeBig Three's Output Plans;Car Retailer's Profit Slips
By NEAL E. BOUDETTE, October 27, 2006; Page A3, The Wall Street Journal
AutoNation Inc., the nation's largest chain of car retailers by dealerships, said it expects to order about 30% fewer vehicles from the Big Three auto makers in the fourth quarter because of a vehicle glut, spotlighting concerns over Detroit's fat inventories of unsold cars and trucks.
The company also blasted the way the Big Three report their inventory, saying it is misleading and "dramatically understates" vehicles on dealer lots. General Motors Corp., Ford Motor Co. and DaimlerChrysler AG's Chrysler Group have each cut production in the third and fourth quarters in hopes of reducing their inventories by year's end.
The three have defended the industry's measure of computing inventories, saying it provides an accurate picture....read more:
here10/27/2006 07:48:00 AM
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