Car Dealer Stocks Look Like Lemons

摘要

Starting in the mid-1990s, some of America's biggest car dealer chains went public. And for a while, the likes of AutoNation, Asbury Automotive Group, and Lithia Motors did investors proud-with the best performers doubling their value between 2003 and the middle of last year.rnEven when car sales began to stall in mid-2006, Wall Street didn't shout "Sell!" After all, the chains had sold investors on the notion that they could thrive during a downturn by selling lots of high - margin used cars and raking in millions servicing vehicles people were keeping.