U.S. auto gross sales are sputtering up to now this 12 months. For the primary 9 months of 2019, gross sales on the Large Three and several other international carmakers fell sharply. However Cheryl Miller continues to be upbeat in regards to the outlook and he or she’s ready to know. As the brand new CEO of AutoNation, she runs the world’s largest automotive dealership.
“The customer is in pretty good shape,” she says. “So I feel reasonably good about where auto sales are and where they’re going to be for the balance of the year. Certainly the business is cyclical, but it’s at a pretty strong point still.”
Miller says she’s optimistic as a result of when she talks with prospects they’re keen to purchase vehicles and SUVs and there’s additionally robust demand for what she calls “nearly new” autos, or what many individuals confer with as “used cars.”
She provides that regardless of query marks in regards to the US financial system slipping into recession, considerations about commerce wars and tariffs, and the sharp swings within the inventory market, her prospects usually are not slamming the brakes due to gloomy information headlines.
“When they see headlines, it does put them on pause for a minute,” Miller says. “However we do really feel that with the quantity of jobs and the employment price inside the nation, that we’re nonetheless seeing good curiosity in buying and servicing autos.
Miller is the primary girl within the driver’s seat at AutoNation. She can be certainly one of 36 girls CEOs operating Fortune 500 firms, and he or she was featured on Fortune‘s annual listing of highly effective girls in enterprise to observe. AutoNation, primarily based in Fort Lauderdale, Fla., is ranked on Fortune’s listing of the 500 largest firms within the nation with 2018 revenues of greater than $21 billion.
Miller says her aim is to increase AutoNation’s choices in mobility and to deliver self-driving autos to the general public by its partnership with Waymo, the autonomous car division of Google.
“What the Waymo relationship shows, is how relevant we are for mobility in the future,” says Miller. “So when people ask about bricks and mortar and what does auto retail look like in the future, we’re on the ground floor.”
Watch the video above for extra from my interview with Miller.