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Autonation CEO on CNBC this am.........

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Autonation CEO on CNBC this am.........

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Old 08-18-2008 | 08:45 AM
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Default Autonation CEO on CNBC this am.........

He said back in May they had to cut used truck/suv prices by 25% to sell off overstocked inventory. Now people realize with the savings offsetting fuel prices they can still drive trucks/SUVs.

When addressing new car/truck pricing they realize to move the 08's they will need to cut prices and stock less of the truck/SUV inventory in the future to eliminate the overstock they have now. He was quoted saying on some models the price cuts will have to be 10-25%.......ouch.
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Old 08-18-2008 | 11:34 AM
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So will the salesmen take the hit or will it be the company?
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