SmartBrief:
Thousands of dealer-franchisees are at risk of what The Wall Street Journal characterizes as the “biggest shakeout in U.S. franchising history” because car sales have skidded and the three major automakers are in crisis.
Experts project that many dealerships will drop brands, consolidate or simply close in the months ahead. Just to maintain last year’s per-dealer sales levels, Grant Thornton’s Detroit office says 3,800 of 20,000 U.S. dealerships need to close.