There are more than 20,000 new car dealerships in the U.S., but National Automobile Dealers Association Chief Economist, Paul Taylor estimates there will be a major shutdown of showrooms in 2008. Taylor says, ":In a typical year, you lose a modest amount of dealerships 75 to 200. This year we’ll lose 600 possibly 7oo net of new dealerships formed. (This is the worst since) the 90-92 recession.":
The national trend doesn’t seem to be catching on in Maine.
Central Maine Motors Auto Group’s Luxy LeClair owns one of the nearly 150 new car dealerships in the state.
He says, despite what folks are hearing about the difficulties in financing, plenty of financial institutions are willing to lend.
Taylor and LeClair attribute Maine’s steady sales to secure footings at local banks and credit unions.