Once again, Jackson sees clouds forming
There's trouble ahead if carmakers continue to boost vehicle production, Mike Jackson says.
The AutoNation CEO says 2014 won't produce the same sales growth as 2013, and he fears added output will translate into excess dealer inventories, more incentives and weaker prices.
Should people listen? Well, Jackson does have a track record on dire predictions.
Flash back to the Detroit auto show in January 2007, when Jackson began to warn that consumers in California were struggling to meet their home mortgage obligations and that housing starts were off.
"That's interesting," we auto journalists said at the show, "but real estate is a different industry. What else ya got, Mike?"
Indeed, Jackson said his West Coast stores were beginning to miss their sales targets, but as auto sales across the country continued to roll merrily along, his warnings about the real estate crisis fell on deaf ears.
And by September 2008 the spreading crisis had brought down the U.S. banking system and the auto industry with it.