David Kelleher used to struggle to sell one or two Sebrings a month at his Chrysler store. After four nearby dealers shut and the automaker emerged from bankruptcy with better cars, he’s spending $2 million to expand.
Mike Jackson, chief executive officer of AutoNation Inc., says the largest U.S. auto dealer is stronger than ever. What’s not strong in his view is the U.S. economy, and that’s why he’s telling workers they won’t see higher paychecks anytime soon.
U.S. automotive executives are extremely confident this year about the state of the industry even as some are becoming concerned that profits may be eroded as competition intensifies, a new survey found.