Superior Toyota of Oakland and Superior Nissan of Fremont Shut Doors
February 25, 2009
Superior Toyota in Oakland, and Superior Nissan in Fremont have closed effectively immediately. Superior Toyota had just opened two months ago and claimed to be Northern California’s largest Toyota dealership. The dealership was just built at a cost of some $35 million! Superior Nissan on Fremont -part of the same dealership group – is also closing. That dealership is located at 43690 Auto Mall Parkway in Fremont.
Dealerships are under immense pressure right now as capital is tight and sales are slow. Ultimately what led the Superior Group to announce the closings was financing, where banks are said to be demanding dealerships pay down inventory at a rate of 10% per month in some cases.
In addition to these pressures, many manufacturers have ceased leasing programs as residual values have fallen so dramatically that it is no longer sensible to provide leasing programs to customers.
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Tags: Dealerships, Fremont, Oakland, Store Closings, Superior Nissan, Superior Toyota
now that is crazy. toyota dealers going out? two months after they opened and spent thirty five million dollars?
whoever opened that dealership must have came from a government job — i thought those things only happen in government!!!
How can I get a hold of the previous owner? Does anyone know? Does anyone know if you can take a bankrupt dealership to small claims court? This dealership not only owes me money but about one week of my life spent on the phone trying to clean up their mess!
unlikely that this is the right venue to get an answer to your questions, though if they filed BK, you are owed money and haven’t been listed as a creditor, then there might still be some hope, but you’d probably be better off asking your question in a legal forum.