If any company is bracing for the shock of falling U.S. auto sales, it’s got to be Group 1 Automotive. The company owns and operates 186 auto dealerships along with 242 franchises and 49 collision centers, mostly in the U.S. and U.K. And on Wednesday, the company provided a business update: the outlook for the industry was catastrophic, to say the least. As a result of the coronavirus lockdown and beginning on March 6, the company said that overall U.S. vehicle sales volumes began to significantly decrease, and are currently down 50-70 percent from normal expected March volumes. Additionally, the company said that based on discussions with its OEM partners, this sales decline is consistent with that experienced by other dealers. “Virtually all of Group 1’s U.S. dealerships are located in markets operating in some type of ‘shelter in place’ or restricted travel environments in accordance with applicable state […]