May 11, 2020 / 11:19 AM / 17 days ago

AutoNation swings to loss after gloomy March sales

May 11 (Reuters) - AutoNation Inc, the largest U.S. auto dealership chain, swung to a quarterly loss on Monday, following a massive sales slump in March due to the COVID-19 pandemic and nationwide stay-at-home orders.

The company's net loss from continuing operations was $232.2 million, or $2.58 per share, in the first quarter ended March 31, compared to a profit of $92.1 million, or $1.02 per share, a year earlier.

Revenue fell 6% to $4.7 billion. (Reporting by Rachit Vats and Ankit Ajmera in Bengaluru)

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