Click on the link below to see Fred Emich III on Fox News. His interview is about 30 minutes in for about 10 minutes. We should know next week what is in store for GM. Stay posted.
http://www.foxbusiness.com/video/index.html?playerId=videolandingpage&streamingFormat=FLASH&referralObject=5421709&referralPlaylistId=1292d14d0e3afdcf0b31500afefb92724c08f046
Denver's Premier VW Dealer
5/29/09
5/16/09
Shockwaves hit Chrysler dealers
On Thursday 789 Chrysler Dealers learned their fate. By UPS mail Chrysler dealers were notified if their dealer agreement was terminated. Those 789 dealers that learned that Chrysler was closing them got news that their operations would be shut down my June 9th. This leaves them with less than four weeks to get rid of vehicle and parts inventory that Chrysler will not be buying back.
This rapid liquidation of dealership is going to send shockwaves through the economy and vehicle markets. Our dealership employees about 70 people and is considered mid sized. I think it is safe to say that 40,000 people lost their jobs on Thursday. I would imagine Chrysler's news coupled with GM's closure announcements mean that the US will see double digit unemployment. I don't see how this is a good scenario in our current economy.
I am predicting that Chrysler vehicle values will fall drastically in the coming months. Why? Because 789 dealerships need to liquidate their inventory in a very, very short period. Those who are not well capitalized will fail early and the creditors will liquidate these vehicles at auctions in masses. By not retailing these new and used vehicles the wholesale market will be flooded with inventory and hence values will drop dramatically.
Buyer beware if you think you are going to get a great deal from a closing Chrysler dealer. The deal might look good now, but the value of these vehicles can only dramatically drop going forward.
Link to list of Chrysler Terminations:
http://wlox.images.worldnow.com/images/incoming/DealershipsExhibitA.pdf
This rapid liquidation of dealership is going to send shockwaves through the economy and vehicle markets. Our dealership employees about 70 people and is considered mid sized. I think it is safe to say that 40,000 people lost their jobs on Thursday. I would imagine Chrysler's news coupled with GM's closure announcements mean that the US will see double digit unemployment. I don't see how this is a good scenario in our current economy.
I am predicting that Chrysler vehicle values will fall drastically in the coming months. Why? Because 789 dealerships need to liquidate their inventory in a very, very short period. Those who are not well capitalized will fail early and the creditors will liquidate these vehicles at auctions in masses. By not retailing these new and used vehicles the wholesale market will be flooded with inventory and hence values will drop dramatically.
Buyer beware if you think you are going to get a great deal from a closing Chrysler dealer. The deal might look good now, but the value of these vehicles can only dramatically drop going forward.
Link to list of Chrysler Terminations:
http://wlox.images.worldnow.com/images/incoming/DealershipsExhibitA.pdf
Emich Chevy Continues...
I am proud to announce that Emich Chevrolet did not receive a letter from General Motors yesterday terminating their dealer agreement. Our store will continue servicing Denver!!!
Great Job Team!
Emich VW had another great month in April. We finished 1st in new vehicle sales for VW. Currently we are ranked 89th out of over 600 VW dealers in the USA. We have sold from 60%-100+% more new vehicles than our competition in Colorado. Accolades go out to our outstanding sales staff.
We are also currently the 13th largest Certified Pre-Owned VW Dealer YTD. We continue to hang with the monster VW stores in the sun belt and California regions in pre-loved sales.
The parts department was also a top purchaser in the western region in April. Hats off to their great strides in their wholesale parts business.
Most importantly we had great customer service marks in April. We continue to strive to be in the 25% in the nation for customer satisfaction.
We are also currently the 13th largest Certified Pre-Owned VW Dealer YTD. We continue to hang with the monster VW stores in the sun belt and California regions in pre-loved sales.
The parts department was also a top purchaser in the western region in April. Hats off to their great strides in their wholesale parts business.
Most importantly we had great customer service marks in April. We continue to strive to be in the 25% in the nation for customer satisfaction.
4/16/09
Emich continues to be #1 in Colorado
Congrats to all departments for a very strong March. The new vehicle department was once again first in the state. We were once again in the top 10 for Certified Pre-Loved sales in the nation. The parts department was ranked third in wholesale dollars per installer for the entire US. Both sales and service had great customer satisfaction ratings as well. Thanks for all your hard work and dedication teams!
It looks like the economic storm is starting to settle as we are seeing increasing activity on the retail front. That should be a good sign for all of us.
It looks like the economic storm is starting to settle as we are seeing increasing activity on the retail front. That should be a good sign for all of us.
3/30/09
Thanks Denver Daily News
Thank you to the Denver Daily News for a very nice article about our dealership.
http://www.thedenverdailynews.com/article.php?aID=3763
http://www.thedenverdailynews.com/article.php?aID=3763
3/13/09
Still #1 in Denver
Emich VW finished #1 in Denver and Colorado in new VW sales for the 13th straight month. Congratulations to the hard work from the New Car Team. We are currently ranked 55th in the Nation for new Volkswagen sales which is a tremendous improvement over last year.
2/23/09
New Cars and the Stimulus Bill
The recently enacted Federal Stimulus Bill will give tax incentives for the purchase of new vehicles. These tax credits can still be combined with the previously existing $1,300 tax deduction for any 2009 Jetta TDI or Sportwagen TDI. Here's how it works:
Effective 2/17/09-12/31/09
Deductible taxes: State or local motor vehicle sales (use tax) or excise taxes imposed on the purchase of a NEW motor vehicle.
Who qualifies? Individuals with modified adjusted gross income of less than $125,000 or joint-filers making less than $250,000 in 2009. The deduction is allowable for the alternative minimum tax.
What New vehicles qualify? Any new vehicle under 8,500 lbs GVW of any model year. Only the first $49,500 qualifies for the full deduction.
For example:
A person purchasing a 2009 VW Touareg for $45,000 would pay $3,474 in taxes if they lived in the city limits of Denver. Hypothetically if they were in a 30% tax bracket they would save $1042 in federal taxes and additionally more on their Colorado state income taxes.
Effective 2/17/09-12/31/09
Deductible taxes: State or local motor vehicle sales (use tax) or excise taxes imposed on the purchase of a NEW motor vehicle.
Who qualifies? Individuals with modified adjusted gross income of less than $125,000 or joint-filers making less than $250,000 in 2009. The deduction is allowable for the alternative minimum tax.
What New vehicles qualify? Any new vehicle under 8,500 lbs GVW of any model year. Only the first $49,500 qualifies for the full deduction.
For example:
A person purchasing a 2009 VW Touareg for $45,000 would pay $3,474 in taxes if they lived in the city limits of Denver. Hypothetically if they were in a 30% tax bracket they would save $1042 in federal taxes and additionally more on their Colorado state income taxes.
2/10/09
Emich up in down market
Despite the troubling economic times Emich VW triumphed in January. In a new vehicle market that was down 37% to the lowest figures in 27 years Emich VW was up 56% year over year. We were also able to increase used vehicle sales and parts sales by over 17%. The service department was flat year over year which is truly a testament to their execptional level of service creating loyal customers.
Great January!
Congrats to John Morse and the Parts Department for being one of the top 10 performing VW parts departments in the nation. Dave Guttenberg and the used car department should also be recognized for finishing 9th in the nation for Certified Pre-Owned VW sales. Chris Kelley and the new car department was once again number one in the region for new Volkswagen sales.
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