AutoNation sees weak housing hurting vehicle sales

Newswire

DETROIT, April 26 (Reuters) - A weak housing market will likely hurt new vehicle sales in the United States through the rest of the year, AutoNation Inc. Chief Executive Mike Jackson said on Wednesday. Jackson, who heads the largest U.S. auto dealership chain, said higher interest rates on home mortgages and a crisis in the subprime loan market have contributed to "severe economic distress." "It has put a question mark on the value of homes," Jackson said in an interview with Reuters. ...

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