On this special edition of CBT News, Jim Fitzpatrick sits down with Mike Jackson, CEO of AutoNation to discuss the company’s six straight record-breaking quarters and his proudest moments at the helm of AutoNation.
This past September, AutoNation announced that former FCA CEO Mike Manley will be joining the country’s number one dealer group as Director and CEO, upon Jackson’s official retirement on November 1. Jackson has held the CEO role for more than two decades, aside from two short instances where Carl Liebert (March 2019—July 2019) and Cheryl Miller (July 2019—April 2020) occupied the position.
Jackson has achieved numerous awards during his time at AutoNation including, CEO of the Year by CEO Magazine in 2006, the National Retail Leadership Award by the Detroit Free Press, and was inducted into the Automotive Hall of Fame in 2018, just to name a few.
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In its third-quarter 2021 earnings call, AutoNation ended up with quarterly earnings of $5.12 per share, outpacing the Zacks Consensus Estimate of $4.35 per share. This is up $2.74 per share at this time in 2020. AutoNation shares have increased about 67.6% since the beginning of 2021 versus the S&P 500’s gain of 20.8%. AutoNation also reported revenues of $6.38 billion for the quarter, compared to year-ago revenues of $5.4 billion.
AutoNation is also in the middle of a strong push to grow its AutoNation USA used vehicle stores, of which now there are eight. However, the brand is targeting to have over 130 locations by 2026. The nation’s top dealer group is also working on its digital retailing offerings and solutions.
To learn more about AutoNation from outgoing CEO Mike Jackson, be sure to watch the complete interview above.
The team at CBT News wishes Mike Jackson the very best in retirement.
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