AutoNation The Largest U.S. auto retail chain profit fells down with less margin on new vehicles & Investment cost on repair parts (CNBC)

Jackson said AutoNation will act to reduce the inventory of vehicles it carries in response to rising interest costs for stocking cars and trucks.

Jackson said he expects the shift by U.S. consumers toward trucks and sport utility vehicles that offer drivers and passengers a high seating position will continue, despite a recent increase in gasoline prices to more than $3 a gallon in some markets.

“It would take $5 or 6 a gallon to reverse consumer behavior,” Jackson said.

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