Lithia says appears U.S. economy in recession


DETROIT, Feb 20 (Reuters) - Lithia Motors Chief Executive Sid DeBoer said on Wednesday that the U.S. economy appeared to have already tipped into a recession based on the slump for auto sales that took hold in the past quarter. "We believe there is a recession on and certainly from our view, in our business we've seen a recession," DeBoer said in a conference call with analysts. Despite the downturn, DeBoer said a restructuring of Lithia's operations intended to make vehicle pricing more ...

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