TEXT-S&P issues industry report on global automakers

Newswire

(The following statement was released by the ratings agency) NEW YORK, Sept 22 - With U.S. light-vehicle industry demand surprisingly strong in recent months, Standard & Poor's Ratings Services said in a report published today that industry sales in full-year 2003 would be about even with the robust sales of 2002. "Heavy discounting has been an important factor supporting industry sales," said Standard & Poor's credit analyst Scott Sprinzen. "As general economic growth ...

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