August 26, 2008
AKRON, OH – Goodyear Tire & Rubber Co. will close 92 company-owned stores to improve profitability of its U.S. retail operations.
Tags: company-owned stores, Goodyear Tire & Rubber Co., retail operations
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By Mike Antich Fuel prices hit record highs. The cost of financing a fleet doubles. Used-vehicle values plummet. Dealers are unable to sell the vehicles they have in inventory. Geopolitically, the U.S. is embroiled in war and the macro-economy teeters on recession. If you think I'm talking about 2008, think again. The year was 1973.
By Mike Antich October was an extremely difficult month to remarket vehicles in the wholesale market as resale prices took a precipitous drop. Wholesale pricing, based on mixed mileage and seasonally adjusted, declined a record 6 percent in October. The lack of credit to both dealers and retail buyers has been the key catalyst contributing to the downturn in the wholesale market. The market forecast is gloomy until the credit gridlock is resolved.
By Mike Antich
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In This Issue: Mixed ’08 OTD Performance: Some Models Up, Some Down, Pitcher Takes the Helm at LeasePlan USA, Person Use Charges Increase in 2008 and much more…