The odd statement came as a response to recent comments made by Michael Jackson about the disastrous current sales of hybrids and other fuel-efficient vehicles. No, we're not talking about the pop-megastar/kiddie-lover, but about Michael J. Jackson, the chief executive of AutoNation.
Being the CEO of America's largest chain of new-car dealers, Jackson was obviously distressed at the sight of a two-day supply of Honda Civic Hybrids on his lots. Apparently, by the end of 2008, when gasoline prices had dropped all over the country, AutoNation was having a 148-day supply of hybrid vehicles. Talk about slow-sellers.
"I have fuel-efficient vehicles parked at my dealerships as far as the eye can see," Michael Jackson was quoted as saying by the Wall Street Journal. "I can't give them away." He said that a great solution to his problem would be if gasoline got priced beyond the $4 a gallon threshold.
When hearing this, Rick Wagoner couldn't agree more, since the General's future product line-up is based almost entirely on fuel-efficient vehicles. At a briefing sponsored by the Christian Science Monitor, GM's chief executive said that "Michael Jackson is a smart guy," and that his idea deserves to be considered by the government.
The average price for a gallon of regular gas according to the Official Energy Statistics from the US government is currently just $1.91, which is a drop of $1.37 from the same period of last year. Wagoner apparently thinks that a federal gas tax increase of more than $2 per gallon would act as an incentive for people to completely switch to buying hybrids. The current federal tax on gas is just 18.4 cents per gallon.
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