GM Dealer Explains Why He Closed Shop The Mark Buick-Pontiac-GMC dealership in Yonkers, N.Y., closed recently after 40 years in business. Mark Herrmann, the former owner, says he had been losing money on it for the last six months, and the terms required by the finance companies made it impossible for him to stay in business.
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GM Dealer Explains Why He Closed Shop

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GM Dealer Explains Why He Closed Shop

GM Dealer Explains Why He Closed Shop

GM Dealer Explains Why He Closed Shop

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The Mark Buick-Pontiac-GMC dealership in Yonkers, N.Y., closed recently after 40 years in business.

"We got into a situation where the demands that were imposed upon us or the requests by the finance companies became untenable," Mark Herrmann, the former owner, says. "Unfortunately, based on economic factors of the last six or seven months ... we saw our volume fall and, obviously, our profits diminished to the point where they became losses."

He says closing the dealership was a difficult decision because of his loyal employees and customers.

Herrmann has been invited to take part in the National Automobile Dealers Association lobbying campaign in Washington next week. He says the group wants to meet with lawmakers about the government mandate for struggling U.S. automakers to shut a certain number of dealerships.

"I don't know a darn thing about running a government," he says. "I'm starting to recognize the fact that, maybe, our government doesn't know anything about running car dealerships."