AutoNation Profits Drop
Friday, February 8th, 2008AutoNation, the largest U.S. auto retailer, announced a 31% fourth-quarter drop in profits . AutoNation Chief Executive Mike Jackson connects the drop in vehicle sales to the housing market problems in California and Florida, where AutoNation is headquarterd. In addition to the housing market issues, American have been delaying big purchases, all of which contribute to the 12% decrease in automotive retail sales.
