AutoNation (AN) CEO Says Toyota's (TM) Loss Is Rivals' Gain

The head of America's largest auto retailer said that the recent recall troubles of Toyota Motor Corp. (NYSE: TM) are a chance for American car makers Ford Motor Co. (NYSE: F) and General Motors to convince consumers that American vehicles are as reliable as Toyota's.

Mike Jackson is the the CEO of AutoNation Inc. (NYSE: AN), which derives 20% of its revenue from selling Toyota's vehicles.

Although the two American automakers had made great strides in trying to match Japanese automakers in terms of reliability and quality, they are still perceived by most to be inferior in those regards.

Jackson said, "Changing perception like that can take decades, but in an event like this you can really change perception from one day to the next."

Jackson said that his stores that sell rival brands such as Ford, Honda Motor Co. (NYSE: HMC), Nissan, and Hyundai have all benefited from Toyota's woes.