Top Chevy Dealer Group Closes, Points to Credit Issues
Bill Heard Enterprises, which was the 11th largest automotive dealership group in the country in 2007, will close the doors of all its locations today.
Thirteen Chevy dealerships in Alabama, Florida, Georgia, Nevada, Tennessee and Texas will close today. There was no news of the company’s Saab and Cadillac businesses. The company — which dubbed itself “Mr. Big Volume” — points to credit problems and the down economy for the closings. After clearing more than $2 billion in revenues in 2007, the group’s CEO, Bill Heard Jr., pointed to customers’ inability to secure loans.
He also pointed to an internal fault of not adjusting to a floundering economy quickly enough. According to the company’s website, Heard employs 3,500 people.
Bill Heard closing its doors today (ledger-Inquirer.com)
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The dealer above was also in many LOCAL Orlando news stories with customers calling 911 for help when their financing wouldn't go through and the dealer wouldn't turn the keys over to their trade-in. I remember this situation was back in 2007. If I recall correctly, they were heavily fined by the state Attorney General.
My sister bought a Cavalier back in the early 90's from one of their Chevy dealers. It was bought new with 26 miles on the odometer. My sister was showing off her new pride and joy when low and behold a receipt showing maintenance on her "new" car was done at a nearby dealership. The odometer reading, which matched the vin number of my sister's "new" car was somewhere in the neighbor hood of 9500 miles. The dealer shortly thereafter offered to pay off the car..... which she accepted. That was the last vehicle any of our family members purchased from Mr. Big Volume.
they have this huge american flag. i mean huge. i wonder if they are going to give back all of those commissions for selling all those trucks. they say they didn't react in time to chnaging times, but why do so when they were selling avalanches and trailblazers left and right.
funny how is the customer's fault for not getting financing.
What if no one cares?
Seriously, they may have a problem with customer loyalty that has been brewing for a long, long time. Well one silver lining, no more junk mail from them.
Bob Wilson
As was noted earlier, check any newspaper or TV site for the local dealerships... I think the $50 million in potential fines for falsifying records and ripping people off is the real problem. In Houston, the "related articles" are all about illegal activities by the dealerships.
I would just like to let everyone know what a company this really was. My husband worked as a fleet mechanic in Kennesaw,Ga. The day they decided to close the employees found out at lunch time. They were told to pack thier belongings and go. No one in his department was paid their wages for that week or the previous week. They let these familes down. Now everyone is left to pick up the pieces and move on.