So what does this mean for the industry? What can we expect?
From a dealer’s perspective, this is great news. It not only provides an endorsement of the viability and stability of auto retailing, but it also gives our industry an immediately recognizable and trusted spokesperson in Buffett.
This should take some of the pressure off and air time away from Mike Jackson, CEO of AutoNation, the country’s largest dealership chain.
The other great news for dealers is the additional attention from all those professionals, investors, bankers, tech people and others who reverently follow billionaire Buffett’s moves. He’s considered a visionary investor. If the industry is good enough for him, how can it not be good enough for them?