According to John Krafcik, CEO of Hyundai Motor America, during the Chicago Auto Show, the first shots have already been fired in what could be an escalating "price war" between major automakers in the U.S. market. Krafcik added that there is “a lot of pressure” to deliver sales results. Increased discounting on new car sales would benefit consumers, but could chip away at the profitability that many investors had projected for automakers at the start of the second year of a still-developing recovery in U.S. auto sales.
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