Discussion in 'Economics' started by swtrader, Dec 19, 2008.
just notived last night, had been out of town for a few days
in the midwest
About 6 weeks ago we had a five star dodge dealer close up, it was quite the nice building maybe less than 10 years old. This is in ny capital region surrounded by other auto dealerships on the same street.
Part of the problem is that the Big 3 (and foreign autos for that matter) pushed all of these dealers to invest big time money in very expensive build outs. Now that things are rough, most of these dealers are up to their eyeballs in debt from them, so when sales tank, there is little room for error.
Quite frankly, there are too many dealers and too many cars purchased in this country anyway, so it's not suprising that many of them will be going away to thin out the forest. In the end, after the pain is gone, it will be a good thing for the ones that remain.
there are a few cars on the back lot, but the front lot is empty
seems like all the buicks and GMCs are gone
this dealer had been in town since 1965
This thread needs pictures:
Detroit Central Station:
Thats really sad.....
GM sent the repo man to collect all the new cars from the local dealership about two months ago.
Grass Valley, CA.
They had just built a new facility last year. In fact I think it went for auction on 12/15.
Edit: Postponed a couple of weeks.
On a dreary day on the county courthouse steps, an equally dreary proceeding â the foreclosure of Weaver Truck and Autoâs property in Grass Valley â was postponed until the New Year.
The foreclosure was put off until 12:30 p.m. on Jan. 2.
âThe holder of the note has requested a postponement,â said auctioneer Jerry Collins, standing on the courthouse steps. Keybank is the lender on Weaverâs property.
The procedure seemed rather surreal in a day and age of e-mail and video-conferencing â people waiting in front of a courthouse dating back 150 years, in 30-something degree weather, to watch the sale of what was once the areaâs largest vehicle dealership.
The $10 million, state-of-the-art facility closed last month when GMAC took away the cars and trucks it had bankrolled because of tightening credit requirements.
The auctioneer, owner Tom Weaver and some others were all standing around, dressed in blue jeans and warm coats, sharing company with some smokers who were at the courthouse. The security men inside had asked the group to wait outside despite the cold weather.
Any would-be buyers would have needed to show up with cash or a cashierâs check, said Collins. Cashierâs checks are preferred to money, because âwe have to count every penny right here,â he said.
Weaver has vowed to reopen his dealership despite its financial hardships.
GM/Chevy dealer just north of Houston just finished a new dealership facility, reallly super nice. Just got all the new GM and Chevy's moved there last week.
I'd bet this is the last bad business decision he'll make in his life.
He's 75, nice guy, supports the local FFA livestock auctions every year. I'd think that's over too, forever.
I talked to his General Mgr last week, he hung his head and said "It's really bad. I've never had 2 wks go by without someone coming in to buy a car. but I have now."
sounds like good news to me. cars sold off the lot, better than seeing a lot full of junky buicks.
could mean he's sold his 'floor plan' no longer paying interest on his inventory
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