AutoNation Exec: Business Uptick Around the Corner
May 12, 2020
AutoNation's chief executive says an automotive industry recovery is likely in the days ahead, because he expects consumers to increase miles driven during vacation season.
May 12, 2020—AutoNation chief executive Mike Jackson recently reported the company outperformed expectations for the first quarter, according to Reuters.
He says that for, their next vacation, consumers are likely to drive due to concerns with public transit and planes. While the company's auto sales were down 10.7 percent and used vehicle sales were down 8.2 percent, the business is recovering as states lift stay-at-home orders, Jackson indicated.
About 45 percent of AutoNation's sales are taking place online. The company has added back about 1,000 workers as business has recovered.
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