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But Better Off than Chrysler and GM Three of the kate spade handbags discount prices nation's largest auto retailers were profitable in the third kate spade new design quarter despite lower new car sales, but profits were down, and it took a lot of doing for dealerships to make up for lost revenue. The results illustrate that even though their fates are tied to the auto manufacturers, dealerships can respond much faster to a downturn in sales by cutting costs and dropping unprofitable operations. Unlike Chrysler and General Motors, none of the nation's biggest retail chains has been forced into bankruptcy. domestic brands. government's Car Allowance Rebate System, better known as Cash for Clunkers. The program, which ran from late July through most of August, paid consumers an incentive of up to $4,500 to trade for a more fuel efficient car or truck. Mike Jackson, chairman and CEO of AutoNation, the nation's largest retail automotive chain, estimated that Cash for Clunkers boosted by about 7 cents per share, or about 19 percent. "Cash for Clunkers was a highly effective stimulus program that provided a much needed lift in auto sales and has set the stage going forward for a gradual recovery of new vehicle sales," Jackson said in a written statement.
Even without kate spade nyc Cash for Clunkers, Jackson said the outlook for the rest of the year is kate spade new york online for "gradual recovery" in auto sales. AutoNation today reported third quarter net income of $65 million, down about 52 percent from the year ago quarter. Also reporting this week were Asbury Automotive Group and Sonic Automotive.
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