Group 1 sees need to cut Big Three orders

Newswire

DETROIT, Oct 31 (Reuters) - Group 1 Automotive Inc. will need to cut orders of 2007-model year vehicles from Detroit's Big Three automakers to reduce inventories of unsold vehicles, Chief Executive Earl Hesterberg said on Tuesday. "We have probably at least 30 percent too much inventory, maybe 40 pct for our current level of sales," Hesterberg told Reuters in an interview. "So in future months we have to be ordering 30 or 40 percent less vehicles than what we are actually retailing." The ...

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