AutoNation to trim buys from Big Three

Oct. 27, 2006 at 6:21 PM

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.

Related UPI Stories
Topics: Mike Jackson
Latest Headlines
Trending Stories
One arrested after Philadelphia college lockdown
Boehner delays House vote for new speaker
NASA releases thousands of Apollo mission photos on Flickr
Snowden: U.S. won't respond to offers to serve prison time
FDA approves new treatment for advanced lung cancer