It's already a week old, which may as well be last decade for internet reporting standards, but here's a good article from the Chicago Tribune the other day about the "Credit Crisis" and it's effect on local dealers. Read here...
To summarize, the new car dealers, especially, the Big 3 are really suffering due not only to less buyers because of the economy, but also not being able to acquire new loans or floor plans. It also mentions that the internet has led to decreased profits as buyers are more educated to find the best deal.
While many dealers are suffering and closing, this is good time for the industry to change with the times. That car dealers lament over the internet "ruining the business," is absurd. They're not seeing the bigger picture.
-Neil
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