Cardinale Way Buick Pontiac GMC-CLOSED

[jdemonto]

Cardinale Way Buick Pontiac GMC in North Scottsdale,AZ closed last Thursday. The rumor is they floored with VW motor credit and the balnce was imediately due, they scrambled to GMAC and they were truned down for the full ammount. Sounds like a new trend and the same reason why the superior auto group closed last week although they floored with Nissan motor credit.

Jason

[okcarl]

It will be interesting to see how this plays out for their other stores. In the Monterey California area they have several stores including VW, Nissan, Mitsubishi and Audi. They also have a BMW store further south. I wonder if they had all the stores through VW credit and if they pulled the line on all the stores.

[XDCX]

I just looked at the website for Cardinale Way Buick/Pontiac/GMC - it looks like they had a beautiful facility.

The comparison to the Superior Auto Group appears to be right on. If VW Finance decided to pull their floorplan loan it would be difficult to find another flooring source in this environment.

While I don't know the details with the Cardinale Way store, I've read other stories which indicates some lenders are pulling floorplans even if the stores are not SOT. They simply cite the fact that the store's not profitable or lacks sufficient capitalization.

While I hope this closure doesn't affect their other stores there's certainly reason to be concerned. The closing of Superior Chrysler/Jeep/Dodge happened about two weeks before the entire auto group closed down.

[XDCX]

The closure of Cardinal Way Buick/Pontiac/GMC has finally been covered by the local newspaper. Here's a link to the report: http://www.azcentral.com/news/articl...inale0313.html

While most of the information simply reported what we already know, I thought it was interesting that the property is owned by Cardinale.

[jdemonto]

Originally Posted by XDCX

The closure of Cardinal Way Buick/Pontiac/GMC has finally been covered by the local newspaper. Here's a link to the report: http://www.azcentral.com/news/articl...inale0313.html

While most of the information simply reported what we already know, I thought it was interesting that the property is owned by Cardinale.

I am not sure I agree with Airpark shuttering our location to merge with Edmoses? We straight up bought Ed Moses dodge and recieved a better loaction out of the deal......Media's spin....

Jason