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The not so good news about Asbury's results. The used problem is likely not going away anytime soon.Asbury's kind of first misstep in nearly three years really seems centered around the company's used business performance and heavy truck. With heavy truck, I give CEO Charles Oglesby a lot of credit for being very straightforward with the investment community. Charles said that based on conversations with analysts and industry participants, they made a strategic (I would call it tactical) bet that the heavy market was going to turn. It did not. And now they need to aggressively move to get their inventory in line. Every good management team will make tactical blunders every now and again. And I find it refreshing when I hear a man
... To view the entire article: Related Companies: Asbury Auto Sonic Automotive
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