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AutoNation Inc. CEO Mike Jackson has long been outspoken about the excess levels of inventory — and numbers of dealerships for that matter — that hurt automakers and auto retailers during some of the lowest levels of vehicle sales.
The auto industry has begun to rebuild inventories since the federal Cash for Clunkers program helped clear out older inventory and force manufacturers to ramp up production of newer models.
Automakers got a lift from clunkers, which spurred sales of nearly 700,000 new vehicles during the summer months. The program, Jackson said, was a shot in the arm for the industry, helped restart manufacturing, cleared off car lots and brought the system back to life.
In a conference call with investors on the company's third-quarter results, Jackson discussed changes he's seen take place in the industry's attempts to manage inventory now that he believes the worst is over.
QUESTION: Do you see any risks as inventory gets rebuilt to those excess levels or do you think the industry has gained religion and that you have enough power to push back to keep this inventory at healthy levels going forward?
RESPONSE: This has been a transformational experience for every manufacturer and it's all about profitability, sustainability, viability ... We see a completely different conversation with the manufacturers ... There's absolutely, for the first time in my career, no pressure to buy more than we need and it's a wonderful place to be.
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