I Had to Find Out if This Was True…

April 20, 2023

by Michael Snyder The Economic Collapse Blog

It appears that the crisis facing auto dealerships is far more dire than any of us thought. Financial institutions are starting to get extremely tight with their money, and that is putting extreme stress on dealers all over the nation. Many of us expected that this would happen, but it seems that things are moving much faster than anyone would have anticipated. Earlier today, I came across a tweet that absolutely floored me. It was posted by a highly respected account known as “CarDealershipGuy”, and it contained some rather ominous news…

 Past 10 days have been wild:

— Capital One shut off all dealer floorplans (aka inventory lines of credit)

— USA Auto Sales shut down 39 dealerships after losing its Ally floor plan