Car Dealerships Folding; Las Vegas No Exception
Posted on May 19, 2009 - Filed Under Business
With the economy continuing its downward spiral, Nevada car dealerships are suffering in a big way. Integrity Chrysler Jeep Dodge announced today that the dealership will close May 29 after being “buffeted by both dramatic decreases in sales and difficulties in the credit markets.” Integrity’s closure comes a day after an anonymous source said in an Associated Press story that Chrysler is planning to eliminate 800 of its 3,200 dealers on Thursday.
Integrity General Manager Dave Wick said the decision to close the dealership was made locally and was unrelated to any reported plans by Chrysler. Chrysler, which has received $4 billion in government loans, filed for Chapter 11 bankruptcy protection in New York on April 30.
Wick said customers who have purchased cars at the dealership, which boasts that it is the largest Chrysler dealer on the West Coast, can go to other dealers for service.
Auto dealerships nationwide continue to suffer massive losses, some turning to inventive new “financing” programs, including those by Kia and Saturn which include “picking up” car payments of delinquent loan holders.
Las Vegas lawyers with reputable Nevada law firms are well-versed in bankruptcy law, and can help with whatever case you have — Chapter 7, 11 or 13. Competent Las Vegas law firms can be found on legal directory Justia.com and a number of other online directories .
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