AutoNation Inc. Chief Executive Officer Mike Jackson said business at car dealerships has declined “practically to a standstill” because customers are unable to get loans.
“We have traffic and demand in our showrooms” for higher sales, Jackson said in an interview on Bloomberg Radio. “The credit is simply not there from the financial institutions to finance those customers: they’re turning away very good customers.”
AutoNation (AN) stock is down 42% in the last year. But being in one of the most affected sectors of the economy the stock is not doing as bad as others. But, as almost cut in half...
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