Mike Jackson CEO of AutoNation predicted the possibility of plateauing auto sales for 2016, a prediction he reiterated in a recent TV interview.
We reported on January 15 Mike Jackson, CEO of AutoNation, warned of plateauing auto sales numbers due to automaker incentive programs. Now, three months later and he reiterated his claims. Speaking to CNBC Jackson said, “So if I look at the first quarter, retail sales for the industry were flat.” Jackson pointed to an increase in automaker incentives to record levels, nearing the danger level of almost 10 percent of the asking price of the vehicle. He also said without a surge in fleet sales, the industry could have seen a year-over-year decline in sales for the first quarter of 2016. more ...
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