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The heads of the big three automakers are in D.C., pleading their case for a bailout for a second day (earlier this morning, Rep. Barney Frank, head of the Financial Services Committee, said, "I hope we will do something"). And as Detroit hurts, so do NYC's dealerships. Crain's New York reports, "Business at dealerships here dropped nearly 50% in November compared with last year, thanks to the credit crunch and consumers’ reluctance to spend on large purchases." Dealerships have been closing in recent months, and the Greater New York Automobile Dealers Association expects more to come--in fact, the GNYADA has a PSA telling people that they should buy cars now! And while all kinds of car sales are being affected, the Wall Street downturn really hurts luxury car sales: The head of a Porsche dealership said, “The Wall Street guys, it was their dream to come in and buy a Porsche 911, but not anymore."
With Auto Industry Woes, NYC Car Dealerships Folding
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Crazy woman on the subway. This is too great not to post!
http://www.youtube.com/watch?v=IOCbij4lgl
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Next, let's see a story about how the restaurants that serve desserts sprinkled with gold flakes and $500 hamburgers are struggling.
Hard to feel sorry for someone who can't buy a Porsche. Soem folks can't buy dinner.
I'm probably buying a new car in the next few days -- nothing fancy -- and wonder the best dealerships to check out? Probably a Nissan or a Toyota sedan.
Jap cars are better made/ American labor unions are partially to blame too. Why should you pay someone 20$ an hour plus overtime to punch a rivet?
A public service announcement to ask people to buy cars now? Are you friggin' kidding? What kind of public service is that?
Maybe the auto industry should run ads like those ridiculous almond ads of a few years ago: "One car a year, that's all we ask."
The head of a Porsche dealership said, “The Wall Street guys, it was their dream to come in and buy a Porsche 911, but not anymore."
Cue the Sonata For The World's Smallest Violin.
How are the Smart car dealerships doing?
"The head of a Porsche dealership said, 'The Wall Street guys, it was their dream to come in and buy a Porsche 911, but not anymore."
No. Their dream was to buy a Lamborghini Murcielago. Porsche was the backup plan in case they got margin called on that Exxon play a month early. Now they dream about U-Hauls.
Finally all the used/new car lots around the city will be gone. They are an epic eye sore that kill retail areas and turn the areas into high crime loitering spots.