Automotive News story on Dealership Bankruptcy Worries

[XDCX]

Automotive News ran a Front Page story concerning the fears Dealers face in light of a potential bankruptcy filing by either General Motors or Chrysler.

The report covered most of what we've already covered in this thread - click here. In fact, I was surprised the report failed to address the concerns with a Dealer's Cash Management Account (CMA).

If there was one surprise, it was the statement from a small GM dealer who's been able to convince some customers to "hold the rebate" - meaning the customer holds the rebate as a receivable and the dealer sends them a check when he's funded by GM.

That's incredible, I'm amazed that any customer who would agree to that condition. This guy should be selling ice to the Eskimos.

[CL Pgh]

Originally Posted by XDCX

That's incredible, I'm amazed that any customer who would agree to that condition.

Remember when Chryslers rebate forms had the "mail rebate directly to customer" box!? Man... am I that old!?

[ssdd]

I remember that too, so I am right there with ya...

[squish]

Originally Posted by CL Pgh

Remember when Chryslers rebate forms had the "mail rebate directly to customer" box!? Man... am I that old!?

i confess, i remember that too...

[squish]

way out here in california, we just recieved our monthly newsletter from the California New Car Dealers Association and they are running two free seminars for dealer principals and GM's to attend concerning what to do if the manufacturer goes BK.

[Granch]

Originally Posted by CL Pgh

Remember when Chryslers rebate forms had the "mail rebate directly to customer" box!? Man... am I that old!?

Me too, and every so often you'd have someone actually opt for it...
especially owners of their own small businesses.

[CL Pgh]

Originally Posted by squish

way out here in california, we just recieved our monthly newsletter from the California New Car Dealers Association and they are running two free seminars for dealer principals and GM's to attend concerning what to do if the manufacturer goes BK.

PAA (Pennsylvania Automotive Association) has a webinar of the exact same at the end of the month... what to do if GM & Chrys. BK.

[XDCX]

Originally Posted by CL Pgh

Remember when Chryslers rebate forms had the "mail rebate directly to customer" box!? Man... am I that old!?

It all started so innocently with that famous line - "Buy a car, get a check...."

Here are the details for those of us who like to think we're too young to remember: In a Super Bowl commercial in 1975, Chrysler pitchman Joe Garagiola offered $200 cash back to anyone who bought a new Dodge Dart or Plymouth Duster. "Buy a car, get a check,'' he said.

[possum]

I think I remember Rebates of $50 also.

[dafuzz1956]

Man there are a bunch of OLD FARTS out there

[CL Pgh]

Originally Posted by dafuzz1956

Man there are a bunch of OLD FARTS out there