"I think over the next five years, the premium luxury segment will grow at double the rate of the volume market because of demographic trends," Chairman and Chief Executive Mike Jackson told The Associated Press in an interview Thursday. "The Baby Boom generation simply shows no signs of slowing down or retiring."
AutoNation defines luxury as premium foreign brands such as Mercedes-Benz, BMW, Lexus, Land Rover, Jaguar and Porsche.
Jackson said gas prices aren't yet impacting sales but could if they remain over $3 per gallon for a sustained period. Even then, Jackson said, an actual gasoline shortage might be the only thing that would really change people's buying habits.
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