AutoNation CEO Mike Jackson predicted the auto industry will sell 14 million units this year, higher than what others in the industry expect.
The auto retailer saw record company revenue of $3.7 billion and earnings of 51 cents, Jackson said, with the biggest increase coming in new vehicles.
“That says something for the entire auto industry and for the economy recovery that’s under way in the United States,” Jackson said. “Autos will be a bright spot for the U.S. economy this year.”
Jackson said the combination of “leaner inventories” from automakers and "production that is coming in much closer aligned to what consumers actually want" for his forecast of higher sales.
As a result, AutoNation doesn't have to use “incentives and liquidation prices to bridge the gap between what’s been produced and what customers want. That’s much healthier for the entire industry.”