Car Dealerships Nationwide Failing in Record Numbers

This is going to be a tough holiday season for a lot of people who work in the automobile industry. As the weeks roll by, it is becoming more and more apparent that thousands of people are going to be losing their jobs, and thousands more will spend the holidays wondering if they’ll have a job to go back to next year.

Nowhere is this more apparent then in the rampant number of car dealerships that have been closing in the U.S. lately. All over the country, dealers have been shutting their doors. The National Automobile Dealers Association projects that about 2,000 new vehicle dealerships will be closed by the end of the year. In the end, it is estimated that one out of every 10 dealers will go bust in 2008 and 2009.

With the state of the American auto industry up in the air, I predict there could be even more dealership closings. If my memory serves me right, General Motors has more dealerships around the country than any other brand. If they go bust, then what happens to these dealers? The era of the million dealerships might be coming to a close.

Source: Auto News Report