UPDATE 1-GM's Lutz says falling markets could hurt sales


(Recasts, adds details, quotes, background, byline) By Jui Chakravorty ROYAL OAK, Mich., Aug 16 (Reuters) - Falling stock prices, a slowdown in the housing market and tighter credit could hurt auto sales, although there has been no big impact yet, a senior General Motor Corp executive said on Thursday. "It is never good when the stock market goes down. It takes wealth out of the economy...people feel poorer and decide to defer major purchases," Bob Lutz, GM's vice chairman and head of ...

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