Q&A: AutoNation CEO sees vehicle prices moderating this year

By TOM KRISHER
AP Auto Writer

DETROIT (AP) — Prices of new and used automobiles are staggeringly high. That’s partly responsible for strong earnings last year by AutoNation, the country’s largest dealership group. Mike Manley is the CEO of the Fort Lauderdale, Florida, company and he says used vehicle prices are starting to ease a bit. But he doesn’t think new-vehicle supplies will improve much until the second half of this year. New vehicles are scarce and prices are high because a global computer-chip shortage has forced all automakers to limit production. That has spilled into the used vehicle market.