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U.S. markets recover from steep losses
DETROIT, Oct. 27 (UPI) -- The largest chain of U.S. car retailers by dealerships expects to order about 30 percent fewer vehicles from the Big Three carmakers next quarter.
AutoNation Inc. said that's because inventories are far too large, the Wall Street Journal reported Friday.
"Either there will have to be a big sales (promotion) or more production cuts, but that's up to the manufacturers," Mike Jackson, AutoNation's chairman and chief executive officer, said in an interview.
Data firm Autodata Corp., which bases its calculations on data from the manufacturers, says General Motors Corp. has enough cars on hand to last 76 days, Ford Motor Co. 75 and Chrysler Group 105. By contrast, Toyota Motor Corp. has only 29 days of inventory.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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ORLANDO, Fla., May 23 (UPI) --
A new labor agreement between Lockheed Martin and workers at three company facilities has been ratified and is now in effect.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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