The expense out weighted the revenue. You can try to blame it on a lot of things but when it gets down to it you have to be able to pay the overhead. This market has challenged everyone.
It is very sad to all of us in the auto industry to see that big lot empty. Many of our local families have been affected by it. Not just those who worked at the dealership but also those who did business with it.
There are so many small business that call on local dealerships with their own products and service many people would be surprised to know just how many business will be affected with GM Giant closing.
Unfortunately this is happening across the country. Many dealerships are cutting back or closing which has a ripple effect throughout their given communities. I have to agree with the last post in that OVERHEAD is the primary cause. I would take that a step further by stating that the problem begins at the source. You can't pay retired union auto workers their full salary when they retire and expect to maintain the same margins. File for chapter 11 kick the union out and restructure. If they don't it's just gonna get worse.
There has been a lot of rumors around about what happened to the company and what happened personally with the owner. Who knows what parts are true and what parts are made up though. I am sure that the economy didn't help things, but I would think that the downfall of the business has to fall back onto management and/or the owner.