CEO Shuffle, COVID-19 Are the Latest Challenges for AutoNation

AutoNation (NYSE: AN) has been beset by problems stemming from the onset of the coronavirus and widespread stay-at-home orders. That obviously prevents people from going out to buy a car, and the data backs this up with March's retail sales down 8.7% and the motor vehicle and parts category dropping 25.6%.

Additionally, with unemployment rolls rising rapidly, this creates yet another challenging situation for the company since people are more likely to hold off on car shopping in difficult economic times.

Thus, it's not surprising that the share price is down 35% year to date. That may be tempting to investors, but other issues are worth examining before deciding if this is an attractive buying opportunity.

Source Fool.com