Slow down! We have too many cars: AutoNation CEO - Another way they fudge numbers in our economy

Slow down! We have too many cars: AutoNation CEO:



"The automakers have a "pretty bizarre" way of calculating inventories to justify these levels, he said in a "Squawk Box" interview. "But if you cut through the bogus calculations and look at dealer inventory for the Detroit 3, it's over a 100-day supply. And it simply doesn't need to be there."

In response, Joe Hinrichs—president of the Americas at Ford—told CNBC: "We have been cutting some production in the fourth quarter of last year and in the first quarter of this year on a couple of our product lines where we saw the inventory grow a little bit.""



'via Blog this'