Automotive Updates

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By Phil Villegas

An estimated 1,000 dealerships will close this year, primarily due to the economic crisis gripping our nation. That means roughly one of every 20 dealerships may close its doors. If you are a domestic dealer, your odds are even less favorable.

By Phil Villegas

With the sharp downturn in vehicle sales, dealers (both foreign and domestic) have watched the value of their stores decline.

So what does this trend mean if you’re looking to buy or sell in the near future?

By Phil Villegas

If you own a dealership selling one of the Detroit 3 brands, you might be thinking the franchise is worthless.

If you believe everything you hear, all you should expect to receive from the sale of your dealership is the value of the real estate and cost of your assets. The value of the “goodwill” or “blue sky” for domestic dealers seemingly is nil.

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