Family-owned Chevrolet dealership that was beloved in community for 70 years is now up for auction
After 70 years, a well-known former Chevrolet dealership that has been in the same family for generations is being sold.
Potential purchasers have until Thursday, December 12 to submit their offers for the dealership, which will go up for auction on December 3.
In accordance to a US bankruptcy court ruling, the former Chevrolet dealership in downtown Laurens, South Carolina, is being put up for auction.
The Smith family first established the dealership as a Pontiac dealership in 1947.
On the 5.1-acre property, however, the family also sold Cadillacs, Jeeps, AMCs, and Forcs.
From the dealership’s founding until its sale to Greenlight Automotive in 2020, the Smiths owned and operated it.
READ MORE DEALERSHIP CLOSURES
However, the dealership will now permanently close in accordance with the court decision.
The property’s current zoning prohibits its usage as a car dealership.
The property, which includes three buildings and eight land parcels totaling 23,620 square feet, is being sold by Ewald Auction.
According to the advertisement, the site is “a great investment or re-development opportunity for storefront retail space.”
Laurens is located in the northwest region of South Carolina, between Greenville and Columbia.
Harley-Davidson dealership shutting after just 5 years for very different use customers know what to blame for closure
There are several reasons why dealerships are closing in the United States.
These include problems with franchise agreements, a decline in sales volume, and a scarcity of new automobiles.
Manufacturers have found it more difficult to construct new cars due of a worldwide chip scarcity that started with the Covid-19 epidemic in 2020.
Additionally, many dealerships have seen a drop in sales volume and unit margins as a result of the recent economic downturn.
Car sales may also be hampered by franchise agreements, which may mandate that dealers maintain specific prices.
Furthermore, smaller, family-run dealerships are increasingly being acquired by larger corporations at a discount.
What to do if a dealership closes
You might be worried about the consequences if you recently purchased a car or motorcycle from a dealership that abruptly closed.
A sudden shutdown can leave some customers feeling as though they have no other options or that their automobile will be repossessed if they require warranty repairs done at an approved dealership or finance a new car or motorcycle.
Following an official notice, you can take the following actions if your circumstances seem like that:
- Notify the bank hosting your loan of the closure to make them aware. If the financing is done through the dealership itself, it’s important to contact the dealership or your salesperson to ask how to keep up your payments. Many dealerships will send the lien (the title and registration that will only be released to the buyer after the debt is paid) to a financial institution to keep.
- If the dealership cannot be contacted through traditional means, most states allow drivers to apply for the title and registration through the DMV.
- If you leased a car from a dealership that went out of business, instructions should be sent as to which dealership to bring your vehicle to when the lease expires. If not, contact the dealership.
- A factory warranty through the manufacturer will be honored at any other authorized dealership. However, an extended warranty through the dealership may not be honored at other repair shops, so it’s important to seek that information from the dealership as soon as possible.
Consumer Law Group is the source.
Harley-Davidson is among the venerable businesses impacted by dealership closures.
Over half a dozen of the renowned motorcycle manufacturer’s dealerships have permanently closed in the last few months alone.
“Many of these dealers have built what we powersports guys call Taj-Mahals over the last ten years,” industry insider Mark Sheffield recently stated in a widely shared LinkedIn post.
Read More on The US Sun
“The cost of heating, cooling, and cleaning those large facilities is high.
“And as they start to age, they are also expensive to maintain,” he stated.
Note: Every piece of content is rigorously reviewed by our team of experienced writers and editors to ensure its accuracy. Our writers use credible sources and adhere to strict fact-checking protocols to verify all claims and data before publication. If an error is identified, we promptly correct it and strive for transparency in all updates, feel free to reach out to us via email. We appreciate your trust and support!