Are High Gas Prices Actually Benefiting the Auto Industry?
Are high gas prices actually good for the automotive industry? According to some, that’s the case – just in sort of a roundabout way. In a recent Wall Street Journal article, one powerful CEO made a compelling argument this is so.
According to Mike Jackson, the Chairman and CEO of AutoNation, the high gas prices present a new opportunity. He said that for the first time, the auto industry can now offer viable alternatives to the gas-guzzling vehicles on the road today. As a result, Jackson believes that a sudden, significant dip in gas prices would actually undercut the growth of automotive technology. Read More