Car discounts won't come back post-pandemic, AutoNation says:
The largest car dealership chain in the U.S. said discounts on new cars may be a thing of the past as the auto industry seeks to lock in higher prices resulting from pandemic-induced production cuts.
“We will not return to excessively high inventory levels that depress new-vehicle margins,” AutoNation CEO Mike Manley said. “Significant discounting and high incentives can also damage a brand, which is another reason for our industry to balance appropriately supply and demand.” Executives at General Motors Co. and Ford Motor Co. have signaled they will throttle production even as computer chip shortages that have forced them to cut output start to ease. The two companies, which have long coped with large inventories on dealer lots that prompted discounting, are eager to preserve their higher profit margins.
France Dernières Nouvelles, France Actualités
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