Go Back   DealershipForum.com > Regional Forums > Southwest Region > Automotive Discussions

Notices

Reply
 
Thread Tools Display Modes
Old 08-03-2010, 12:05 PM   #1
XDCX
Administrator
 
Join Date: Nov 2007
Posts: 14,869
Default Santa Barbara Chrysler/Jeep/Dodge closes down

News reports indicate that Santa Barbara Chrysler/Jeep/Dodge/Hyundai closed down suddenly this week. For the full report from the local TV station - click here

The dealership is one of four or five in Central California that were left hanging during the transition from Chrysler Financial to GMAC. The dealer principal indicates he has a new owner lined-up and hopes the dealership will re-open soon and re-hire the staff that was laid off.

As a side note, the dealership is located on property leased from the local airport and is in a designated flight path zone. The dealership has been grandfathered for the past 30 years but will lose that status if the dealership is closed. Without the exempt status the facilities would likely be torn down to comply with FAA mandates.
XDCX is offline   Reply With Quote
Old 08-10-2010, 12:18 PM   #2
XDCX
Administrator
 
Join Date: Nov 2007
Posts: 14,869
Default

Quote:
Originally Posted by XDCX View Post
The dealer principal indicates he has a new owner lined-up and hopes the dealership will re-open soon and re-hire the staff that was laid off.
News reports indicate a GM dealer, Leo Bunnin, from neighboring Ventura County has completed negations and is in the process of performing due diligence concerning the purchase of Santa Barbara CJD - Hyundai.

For the full report - click here
XDCX is offline   Reply With Quote
Old 11-02-2010, 09:27 AM   #3
XDCX
Administrator
 
Join Date: Nov 2007
Posts: 14,869
Default Bunnin's deal to purchase Santa Barbara Chrysler-Hyundai fails

Quote:
Originally Posted by XDCX View Post
News reports indicate a GM dealer, Leo Bunnin, from neighboring Ventura County has completed negations and is in the process of performing due diligence concerning the purchase of Santa Barbara CJD - Hyundai.

For the full report - click here
After almost three months of negotiations Leo Bunnin's plan to purchase Santa Barbara Chrysler, Jeep, Dodge, Hyundai from Jim Crook have fallen through. Jim Crook will close the dealership by the end of this month. For the full report - click here

Perhaps most interesting is the reason cited for the failed negotiations - misunderstanding about what tenant improvements would be covered by Chrysler. Here's an excerpt from the report: He said Monday that a deal collapsed over tenant improvements he thought Chrysler would cover. Bunnin said he was going to stay about 18 months in Goleta, then move into a mall on Hitchcock Way in Santa Barbara.
“There was a misunderstanding between what I thought the manufacturer would do and what they actually could do, and that kind of cleared the deal,” he said.

To the extent Bunnin is a successful GM dealer, I wonder if there are situations where GM would have helped with tenant improvements?

XDCX is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Geweke Chrysler Jeep Dodge closes XDCX Automotive Discussions 2 02-04-2009 10:53 PM
Hemet Chrysler/Jeep/Dodge closes down XDCX Automotive Discussions 0 01-11-2009 07:44 PM
Bill Buckner Chrysler, Jeep, Dodge closes down XDCX Automotive Discussions 0 12-04-2008 09:20 PM
Hood River Chrysler/Jeep/Dodge closes down XDCX Automotive Discussions 0 11-20-2008 11:25 AM
Whittier Chrysler, Jeep, Dodge closes down XDCX Automotive Discussions 1 07-08-2008 11:35 AM


All times are GMT -7. The time now is 11:55 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright DealershipForum.com - 2008 - 2016