Despite the rising cost of gases, Americans are still not willing to let forsake their luxury cars. According to Mike Jackson, Chairman and Chief Executive of AutoNation Inc. the premium luxury segment is expected to grow double the rate of the current trend. He states, ‘The Baby Boom generation simply shows no signs of slowing down or retiring.’
AutoNation Inc., the largest auto retailer in US also saw 15 percent growth in the sales of luxury cars. Jackson further stated that only real acute shortage and not the rising cost of gas would affect the sales of Mercedes-Benz, BMW, Lexus, Land Rover, Jaguar and Porsche.
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