UPDATE 1-Group 1 sees need to cut Big Three orders

Newswire

(Adds details) DETROIT, Oct 31 (Reuters) - Car dealership chain 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, its chief executive said on Tuesday. "We have probably at least 30 percent too much inventory, maybe 40 percent for our current level of sales," CEO Earl Hesterberg told Reuters in an interview. "So in future months we have to be ordering 30 or 40 percent less vehicles than ...

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