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The industry took advantage of record profits, stock buy-backs, dealer mark-ups, and cheap money. So many fingers pointed at Tavares but look at the auto industry as a whole. Nissan is nearly bankrupt. Ford, Chevy, Toyota, and Honda all have dismal sales and projected profits. Anyone who bought a new car 2-3 years ago can’t trade in negative equity, and realistically has no reason to buy. Everyone else is driving used cars into the ground because prices are insane.
And our Federal Government is going to “LOAN” them 7.54 billion!
$38 Trillion dollar debt by the end of 2025 is looking like a guarantee!