TEXT-S&P issues report on North American auto sales

Newswire

(The following statement was released by the rating agency) NEW YORK, March 20 - Severe weather conditions, geopolitical concerns, high fuel prices, and low used-vehicle prices are among the factors that contributed to the slowing of North American auto sales in recent months, according to a report released on March 20, 2003, by Standard & Poor's Ratings Services. The slow sales pace has caused dealer inventory levels to spike above historical averages, and several vehicle ...

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