AutoNation's CEO suggests $1 hike in gas taxes

[XDCX]

AutoNation's CEO, Mike Jackson, told reporters that he supports a gradual increase in the federal gas tax from the current level of 18.4 cents to $1.00.

He feels that an increase would shift demand toward more fuel efficient vehicles.

Given that Auto Nation still has a number of domestic dealerships, I thought it was a surprising statement to make. It would seem to me that $4+ at the pump would kill-off many of his Ford, GM and Chrysler stores.

Here's a link to the article: http://www.reuters.com/article/marketsNews/idUKN1563401420080115?rpc=44

[XDCX]

I ran across this thread today and had to laugh.

One of my favorite expressions is "Be careful what you ask for because you just might get it." It applies perfectly here. :)

Jackson wanted higher gas prices and he got em. In the process his stores got clubbed with the lowest sales volume in decades and his stock price reached a seven year low.

I wonder what Jackson's position on higher gas taxes is now?