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AutoNation CEO: 2015 could see historical U.S. auto sales

U.S. auto sales will rise above 17 million vehicles next year for only the third time in history, AutoNation Inc Chief Executive Mike Jackson said on Tuesday.

In the previous years when U.S. auto sales topped 17 million vehicles, 2000 and 2001, the number of vehicles per household was on the rise, a trend which Jackson said has since leveled off and will not be a driver in next year’s projected growth.

Rather, pent-up demand as well as compelling new product that is more fuel-efficient, along with favorable credit terms, will lead to sales of 17.1 million vehicles next year, Jackson told Reuters in an interview.

Earlier on Tuesday, AutoNation posted quarterly earnings that beat Wall Street expectations by 4 cents a share. Shares of the largest U.S. auto dealer group were up 5.4 percent at $54.81.

Source: CNBC

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