Bill Heard chain collapses...
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Postmaster
Joined: Jun 2006
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From: Kzoo
Bill Heard chain collapses...
This is pretty crazy...
TTAC: Bill Heard Chain Collapses; All 13 Stores closing.
Man, this news cycle is insane. Another Automotive News [sub] alert, this time telling us that the infamous Bill Heard dealership chain is toast. All 13 stores are about to close their doors. “The company notified the stores’ general managers at 2 p.m. today, the source said, who spoke anonymously because he was not authorized to speak.” The source offered a predictable litany of factors (aside from the fact that Bill Heard is one of the most reviled automotive chains in American history). “High fuel prices, cancelled floorplanning from GMAC Financial Services, a reliance on trucks and SUVs, a soft national economy and struggles in local markets had troubled the company, which on Sept. 12 closed its store in Scottsdale, Ariz.” The story behind the story will take some unearthing, but the damage to GM caused by the loss of “Mr. Volume” is calculable. “Bill Heard Enterprises, of Columbus, Ga., ranks No. 13 on the Automotive News list of the top 125 U.S. dealership groups, with 2007 group revenue of $2.13 billion.”
TTAC: Bill Heard Chain Collapses; All 13 Stores closing.
Man, this news cycle is insane. Another Automotive News [sub] alert, this time telling us that the infamous Bill Heard dealership chain is toast. All 13 stores are about to close their doors. “The company notified the stores’ general managers at 2 p.m. today, the source said, who spoke anonymously because he was not authorized to speak.” The source offered a predictable litany of factors (aside from the fact that Bill Heard is one of the most reviled automotive chains in American history). “High fuel prices, cancelled floorplanning from GMAC Financial Services, a reliance on trucks and SUVs, a soft national economy and struggles in local markets had troubled the company, which on Sept. 12 closed its store in Scottsdale, Ariz.” The story behind the story will take some unearthing, but the damage to GM caused by the loss of “Mr. Volume” is calculable. “Bill Heard Enterprises, of Columbus, Ga., ranks No. 13 on the Automotive News list of the top 125 U.S. dealership groups, with 2007 group revenue of $2.13 billion.”
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Postmaster
Joined: Jun 2006
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From: Kzoo
Although from what I have read in this article it may be a good thing they are gone.
State says Bill Heard Chevrolet used deceptive practices.
State says Bill Heard Chevrolet used deceptive practices.
Post Fiend
Joined: Jun 2001
Posts: 5,228
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From: Running Springs CA
"... the key words are GMAC cancelled their floorplan…. That tells you right there that a lot of funny numbers were running out of there…
I sent you the vins, I put them in the mail…."
Anyone see the movie Fargo?
Jim
I sent you the vins, I put them in the mail…."
Anyone see the movie Fargo?
Jim
Cargo Master
Joined: Apr 2001
Posts: 2,220
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Looks like the way the system is supposed to operate.
Dealers can easily be replaced so killing off the bottom tier is no problem.
Dealers can easily be replaced so killing off the bottom tier is no problem.
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Post Fiend
Joined: Jun 2002
Posts: 13,873
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From: Atlanta GA
This will be a big impact on GM and the state of GA (loss of sales tax). People can talk all they want about replacing defunct dealerships with company stores. I have worked for 800+ new units per month Ford dealers. Company stores do lousy volume compared to a guy willing to shaft his own grandmother to make quota. For volume sales there is no substitute for the dirty dog. Or the GM that sits down his sales force and has them cold call the local phone book for ten more sales that month ... such sweet memories.
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Post Fiend
Joined: Jun 2001
Posts: 5,228
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From: Running Springs CA
You dont have to be a crook to move metal. Some of my best buying experiences were with the #1 Ford dealer (Galpin) and the #1 Toyota dealer (Longo). The worst was a small Toyota dealer that is no longer in business. I had to sue (and won) and the DMV pulled their license.
Jim
Jim