Chrysler trying to save Dade Jeep Chrysler Dodge

[XDCX]

News reports indicate that Chrysler is working to find new owners for Dade Chrysler Jeep Dodge in an effort to keep the dealership open.

The dealership moved to their new location last year and County records indicate that there's a $16.8 Million mortgage against the property.

Based on my quick calculations, that's a rent factor of $105K+ per month before any taxes or insurance.

Here's a link to the news report: http://www.miamiherald.com/business/story/899853.html

[SHACOS]

That's 42 vehicles at a $2,500 per clip average just to cover that portion of the overhead. That's a pretty good head start needed.

[zohpy]

I worked at that dealership for 8 years in old location. They had been trying to get a Dodge franchise for a long time. It was previously Dade Jeep Chrysler Plymouth. Then Plymouth went away.
At one point we were doing 250-300 units per month in a very old facility. I was very happy to see that they got the franchise and the new building is beautiful.
Marty and Jeff Kaye (the DP's who are brothers) are really great guys. I'm so sad to see this happen to them. Spoke to the comptroller on Tuesday who's been with them for 20+ years. She said the only parts of the store open was service and parts dept. They had to let well over 100 people go. So very sad.

[XDCX]

Originally Posted by zohpy

Marty and Jeff Kaye (the DP's who are brothers) are really great guys. I'm so sad to see this happen to them.

It must be eating them up to watch everything they've built-up slip through their fingers. Add to that the depression of having to layoff employees who had been loyal to them for a number of years.

It will be interesting to see if Chrysler actually finds a buyer - my bet is there won't be too many people willing to step up to that rent factor given all the uncertainty about the future.