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AutoNation’s equity is trading materially lower than its 52-week high in what has generally been a fairly strong equity market environment (ex the 4thquarter). The rationale as to why is largely focused on concerns about “peak auto” and the threat of autonomous cars, I guess. Management has been very forthright about the challenges in comparable sales that new vehicles will face and expect U.S. new car sales to moderate from the low 17 millions per year over the past few years to the high 16 million range this year. Management has