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Times are tough, but so are car dealers. Still, the current economic onslaught is virtually unprecedented. The industry lost some 700 dealers last year, says NADA, and may lose perhaps another 1,000 in 2009. NADA has pushed hard in Washington, as its members try to hold on (see Getting the Job Done in Washington). Sales, even for used, and floor traffic are way down pretty much everywhere, and the stalwart service department also is off its usual numbers. The credit crunch’s squeeze on individual dealers seems to depend in part on the length and strength of their relationships with banks and credit unions. See “Auto Retail: Stuck in a Rut,” by senior editor Joan Mooney (available in the January 2009 print edition). |
