06-13-2008, 10:06 AM | #16 |
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Yeah that Grapevine store was a Taj- Mahal, I think rent was $100,000 per month
Big loser for Lithia Lithia gave it back to Chrysler. Now it a Chrysler MI store. Speaking of rent, Lithia had small stores with small rent. Like in Denver they go and build these great facilities and tack on another $40,000 in rent on top of the pack they had on the previous rent. All of a sudden a store is burden with $40,000 times 12 months = $480,000 in additional rent. That where the bottom line goes. Wonder what thre rent and profits are like in Medford Dodge |
06-13-2008, 10:31 AM | #17 |
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Have you seen Medford Dodge? It's as close as you can get to the old Grapevine store.
Grapevine was lovingly referred to as the Dodge-Mahal. |
06-13-2008, 10:36 AM | #18 |
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LOL. Thats why I asked about it. From the humble beginnings of a little store selling big volume and having small rent, to the new Dodge- Mahal selling little volume and having big rent.
I love Lithia's common language and the DeBoer's, I hope they can right the ship. |
06-13-2008, 11:12 AM | #19 |
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I think it will happen. "Assured" was just removed from all the external marketing to give a clear message that Lithia is the brand, not assured. The customer displays and handouts are very nice.
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07-02-2008, 12:02 PM | #20 | |
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Quote:
That said, I have to agree with dealer3100 - What's the rent factor and can you sell enough additional vehicles to offset the expense? |
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07-02-2008, 12:07 PM | #21 |
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Who owns the Used Truck/SUV Dealership by the Airport?
As I was making my way back to I-5 from the new Lithia CJD store in Medford I couldn't help but notice the Used Truck/SUV Dealership by the Airport.
They must have had 100+ units in stock with most being in the $15K to $25K range. With slow sales and a depreciating inventory that looked like a tough store to own right now. It will be interesting to see how many Used Car Dealers are forced out of business due to the slowdown in the economy. |
07-24-2008, 10:02 AM | #22 |
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I drove by Urban Chrysler/Jeep/Dodge....
I had a chance to drive by Urban Chrysler/Jeep/Dodge earlier this week and was amazed at how things had changed.
When I was there three years ago it was a thriving dealership in a growing Auto Mall - the future looked bright. Today it's nothing but a sitting hulk wasting away in the sun. The dealership is no longer thriving and the Auto Mall is dieing a slow death. In fact, can you even call it an Auto Mall when there's only ONE store left? I don't know who owns that Chevrolet Dealership but they must be taking a huge hit every month with virtually no hope of ever turning a profit. It will be interesting to see what ends up happening to the real estate. |
07-24-2008, 10:09 AM | #23 |
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I have never been there, but my Finance manager who had worked there told me about the Pontiac- Buick- GMC store being turned into a garden center. Is it true?
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07-24-2008, 11:07 AM | #24 | |
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When I drove by there were just a few customers in the lot. You could tell that the Garden Center was a former car dealership - they did not make many changes to the building. It just had a look of desparation to it - like the landlord was willing to take any tenant just to fill an empty lot. If you get a chance, you should drive by. I'd love to know more about that Chevrolet store. It wouldn't surprise me to learn that General Motors is somehow involved with that store - who else would want to stay and fight what clearly appears to be a losing battle. It's hard to imagine that anyone would want to bank-roll an Auto Mall in SoCal that had nothing but domestic dealerships as their anchor stores. What were they thinking? |
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