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Liebert, a year-old executive with experience in retailing and financial services, will take the top job as new technology and the rise in e-commerce are reshaping how consumers shop for and buy cars.
Dealers are also confronting cooling U. Jackson, 70, announced he was stepping down from the CEO role in September. He will stay on as executive chairman.
In recent years, Mr. The company also has launched a line of AutoNation-branded auctions, car-parts and collision centers and is working with Alphabet Inc. AutoNation has also joined with Fair, a subscription service for used cars that allows customers to swap in and out different vehicles.
Liebert joins AutoNation at a time when falling profits on new-car sales continue to weigh on earnings. As part of the restructuring, three high-level executives have left the company.
Jackson said in an interview, of the restructuring. Rising interest rates and higher new-vehicle prices are pushing up costs for buyers, putting pressure on retail sales, he added.
Jackson attributed the miss to analysts not factoring in the impact of the California wildfires during the quarter, which caused sales to slow, and the tough year-over-year comparison with the fourth-quarterwhen sales rose following hurricanes Harvey and Irma.
Liebert is currently the chief operating officer and executive vice president of USAA, a financial-services company, responsible for the overall business strategy.
He served as chief executive of Hour Fitness, a chain of fitness clubs in the U. He was also an executive vice president at Home Depot Inc.
Jackson said in a statement. AutoNation said he would start at the company on March Write to Adrienne Roberts at Adrienne.Be prepared with the most accurate day forecast for Prescott, AZ () with highs, lows, chance of precipitation from The Weather Channel and timberdesignmag.com Scan for updated forecast.
AutoNation: Best July new vehicle sales since From January through July, sales of Lexus grew 17 percent, Lincoln 16 percent, Land Rover 14 percent and Audi 13 percent compared to last year, Automotive News reported.
Auto analysts forecast luxury brands will sell at least million new vehicles nationwide this year. Avis Budget has teamed up with AutoNation for the “Ultimate Test Drive” initiative, which lets consumers use the AutoNation Direct sales channel to purchase off-rental Avis and Budget units.
Jul 19, · AutoNation Sees Vehicle Sales Boost From Homebuilding Craig Trudell. AutoNation Sees Vehicle Sales Boost From Homebuilding Craig Trudell AutoNation forecasts industrywide light-vehicle sales. The FedEx Services segment provides sales, marketing, information technology, communications, customer service, technical support, billing and collection services, and certain back-office functions.
Apr 25, · AutoNation posted a 5 percent jump in first-quarter profit Wednesday as the nation's largest dealership chain sold more new and used timberdesignmag.com AutoNation 1Q net income up on higher car sales.