Re: The Motor Industry
I work for a software company that is owned by a conglomerate mostly involved with automotive enterprises--primarily a distributorship for a major Japanese manufacturer, but also a lot of dealership service and aftermarket stuff.Our systems are geared toward finance companies and banks who provide financing to dealers--mostly automotive. We're not involved in the retail finance side of things at all.Having said that, things are in pretty tough shape. Dealers are falling by the wayside, some by choice, some by the choice of the manufacturers, and some by the choice of their creditors. Some finance companies and banks are looking to reduce or eliminate their credit extension to dealerships, so portfolios are being sold off and there is a lot of market contraction. Our industry is watching the Penske and Fiat deals very closely to see what happens and if there will be similar shakeups with regard to the Detroit 3. We're seeing the Korean manufacturers gain a lot of market share, mostly at the expense of the Japanese, although Detroit continues to slip too.
P
pkjensen
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I work for a software company that is owned by a conglomerate mostly involved with automotive enterprises--primarily a distributorship for a major Japanese manufacturer, but also a lot of dealership service and aftermarket stuff.Our systems are geared toward finance companies and banks who provide financing to dealers--mostly automotive. We're not involved in the retail finance side of things at all.Having said that, things are in pretty tough shape. Dealers are falling by the wayside, some by choice, some by the choice of the manufacturers, and some by the choice of their creditors. Some finance companies and banks are looking to reduce or eliminate their credit extension to dealerships, so portfolios are being sold off and there is a lot of market contraction. Our industry is watching the Penske and Fiat deals very closely to see what happens and if there will be similar shakeups with regard to the Detroit 3. We're seeing the Korean manufacturers gain a lot of market share, mostly at the expense of the Japanese, although Detroit continues to slip too.
