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U.S. markets recover from steep losses
LAS VEGAS, Feb. 3 (UPI) -- A top U.S. auto industry analyst has called for the closure of two-thirds of the nation's dealerships selling Detroit-made cars.
Former General Motors advisor Stephen Girsky told the National Automobile Dealers Association's annual convention in Las Vegas Friday that the glut of dealerships selling U.S. cars is unhealthy for the industry, the Detroit News reported Saturday.
The average domestic auto dealer sells an annual 631 vehicles at most compared to the average 1,685 cars sold by foreign auto dealers in the United States, reports the J.D. Power and Associates Power Information Network.
Many dealers appear to support Girsky's theory of consolidation but have been hesitant to enact the plan because of the prospect of losing their livlihoods, the News said.
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