Hummer fire sale?
#11
05-19-2009, 10:52 AM
You finance your home, auto or anything else. YOU DON'T OWN IT! The bank or lending institution OWNS it.
I never said that is what he is doing, I just said that is what other dealerships he knows the owners of are doing. Besides, if they are going to retire they have nothing to lose! When you have to "close" your dealership and "get rid" of your inventory by May 7th of 2009 (less tahn 2 weeks). Might as well get every penny you can for the vehicles you have. Other dealers still in business already have to much inventory and are not going to buy your inventory.
"Integrity", yeah great word. But just a word when you think that Chrysler can put a dealership that is in the top 20 in the country in sales, top 5% in customer satisfaction and a third generation dealership! Oh yeah, and the competing dealer who got to keep their franchise is in the lower 200 in sales, terrible customer service rating, hasen't remodeled the dealership in 25 years..... but he is a personal friend and financial backer of B.O.? Yeah, lets talk about "Integrity", great word to throw around when you are not getting the shaft!
I never said that is what he is doing, I just said that is what other dealerships he knows the owners of are doing. Besides, if they are going to retire they have nothing to lose! When you have to "close" your dealership and "get rid" of your inventory by May 7th of 2009 (less tahn 2 weeks). Might as well get every penny you can for the vehicles you have. Other dealers still in business already have to much inventory and are not going to buy your inventory.
"Integrity", yeah great word. But just a word when you think that Chrysler can put a dealership that is in the top 20 in the country in sales, top 5% in customer satisfaction and a third generation dealership! Oh yeah, and the competing dealer who got to keep their franchise is in the lower 200 in sales, terrible customer service rating, hasen't remodeled the dealership in 25 years..... but he is a personal friend and financial backer of B.O.? Yeah, lets talk about "Integrity", great word to throw around when you are not getting the shaft!
Still, Chrysler doesn't own the vehicles -- the dealer purchases it through a floor plan finanical institution (GMAC, Chrysler Financial, etc). If they sell short and declare bankruptcy, it will be themselves and the lender that are hurt, not Chrysler corp.
If what you say is true about volume, customer satisfaction, and market share -- I agree -- someone made a poor decision. Though, from a business standpoint, why would they do that if it were the case? From what I've seen, dealer relationships have gone out the window and have been replaced by purely business decisions.
#12
05-19-2009, 11:09 AM
The one thing it will do is hurt the existing dealers by stealing sales and dropping prices. News last night said Blue Book prices on Chrysler products had recently dropped 6% and they now expected a severe drop in resale prices on all Chrysler products. That will hurt remaining dealers and Chrysler.
#13
05-19-2009, 11:20 AM
The one thing it will do is hurt the existing dealers by stealing sales and dropping prices. News last night said Blue Book prices on Chrysler products had recently dropped 6% and they now expected a severe drop in resale prices on all Chrysler products. That will hurt remaining dealers and Chrysler.
Good point - and if you bought 3 months ago - the ammount you'll be upside down will be astonishing.
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