Mercedes dealership files for bankruptcy?

Discussion in 'General Discussion' started by Robbo, Nov 30, 2008.

  1. ShinyF1

    ShinyF1 Hardcore MB Enthusiast

    Messages:
    1,116
    Joined:
    Aug 27, 2006
    Location:
    SW London
    Car:
    2012 Audi S5 Cab, 2000 E320 CDI Estate [now gone] , 2010 Mini Cooper Convertible
    and of course Joe Public to increase their personal borrowing to kickstart spending.....
     
  2. ShinyF1

    ShinyF1 Hardcore MB Enthusiast

    Messages:
    1,116
    Joined:
    Aug 27, 2006
    Location:
    SW London
    Car:
    2012 Audi S5 Cab, 2000 E320 CDI Estate [now gone] , 2010 Mini Cooper Convertible
    I take your point, but if all personal spending is fuelled by increased credit, what is the conclusion?
     
  3. Rory

    Rory MB Club Veteran

    Messages:
    7,251
    Joined:
    Mar 12, 2005
    Location:
    Cheshire, UK
    Car:
    C270CDi Estate (late 2004 facelift model)
    It's become apparent that my dealership's Service Manager has "gone" and now the Parts Manager is doubling up.

    Apparently in the groups which own several dealerships this has happened a lot recently, or the relevant manager has become responsible for mutliple sites.
     
  4. Howard

    Howard MB Club Veteran

    Messages:
    18,624
    Joined:
    Apr 23, 2004
    Location:
    Toad Hall
    Car:
    CLS 500 / A 150
    Gotta keep warm somehow
     
  5. C240Sport97

    C240Sport97 MB Club Veteran

    Messages:
    8,637
    Joined:
    Feb 22, 2004
    Location:
    London E1
    Car:
    SL400 and 911 GT3
    not surprising as they have not sold many cars at all ...
     
  6. Dryce

    Dryce MB Club Veteran

    Messages:
    6,793
    Joined:
    May 17, 2006
    Car:
    ..
    It's really about confidence.

    Has the availability of credit for vehicle purchases dried up? I don't think it's credit availability that's holding back the car market.
     
  7. Vlad

    Vlad Hardcore MB Enthusiast

    Messages:
    2,401
    Joined:
    May 30, 2003
    Location:
    Reading, England
    Car:
    Various Mercs come and go
    Certain aspects of the car market are holding up strongly, ie the Sub £5k market. People are trading down and at this end of the market you will only need a small loan, if any at all, and you can get a more than respectable car in this price range which will tie you over until things get better....which I suspect won't be for another 18-24 months.
     
  8. Dieselman

    Dieselman Banned

    Messages:
    34,206
    Joined:
    Jul 13, 2003
    Car:
    Peugeot 403 Convertible
    You must be too young to remember the early '80's then. This is a storm in a teacup.

    The only reason this is making news is because there has been too much easy credit which has now been withdrawn
    In reality it should be business as usual but people need to live within their means.
     
  9. Howard

    Howard MB Club Veteran

    Messages:
    18,624
    Joined:
    Apr 23, 2004
    Location:
    Toad Hall
    Car:
    CLS 500 / A 150
    Yeah , my dad was grizzling to me the other day about the interest rates in the 80's .... i was no doubt moaning about mortgages or something ...

    Was really bad apparently , interest rates of 15%+ .... if that happened nowadays , i'd be living in a telly box under the bridge.
     
  10. Mudster

    Mudster Hardcore MB Enthusiast

    Messages:
    2,509
    Joined:
    Sep 4, 2006
    Location:
    Surrey
    Car:
    2008 A150 SE Classic, 2007 Saab 9-3 Sportwagon
    Nope, I lost a house in the last crash with negative equity etc etc....

    This is a whole different ball game, I'm suggesting it's bad becasue we're not even into it completely yet.....We're only at the start.
     
  11. Dieselman

    Dieselman Banned

    Messages:
    34,206
    Joined:
    Jul 13, 2003
    Car:
    Peugeot 403 Convertible
    I don't mean the house price bubble in 1988, I mean the deep recession from 1980 to 1986. It was bad, people really were living in Cardboard City.
     
  12. Howard

    Howard MB Club Veteran

    Messages:
    18,624
    Joined:
    Apr 23, 2004
    Location:
    Toad Hall
    Car:
    CLS 500 / A 150
    That's an address you don't want , along with Death Row ...
     
  13. Fandango

    Fandango Hardcore MB Enthusiast

    Messages:
    514
    Joined:
    Jul 28, 2002
    Location:
    Central Scotland
    That though is preferable to Torture Chambers.
     
  14. richard

    richard Authorised Forum Sponsor Authorised Forum Sponsor

    Messages:
    6,039
    Joined:
    Jun 10, 2002
    Location:
    Berkshire, UK
    Car:
    MY04 SL55, MY18 GLC63s
    I am pleased to report that this is not true.

    I was told by a very senior person there: - "I'm pleased to confirm that Greenoaks is a privately owned company, which is very well funded. There is no truth in this rumour."

    Cheers
    Richard
     
  15. hawk20

    hawk20 Hardcore MB Enthusiast

    Messages:
    4,344
    Joined:
    Jul 15, 2006
    Location:
    Lymington, Hampshire
    Car:
    ML250 BlueTEC Sport Jan 2013
    It isn't.

    Most personal spending comes out of earnings or pensions and some from withdrawing past savings. Some from selling assets.

    Spending based on borrowing is different. If you buy a meal out and go to a show and put it all on a credit card it increases your standard of living while you borrow (you get a meal etc you didn't have before), but when you come to pay it back it reduces your standard of living by the same amount you borrowed -PLUS the interest you pay.
     
  16. SL300-24

    SL300-24 Hardcore MB Enthusiast

    Messages:
    1,702
    Joined:
    May 28, 2004
    Location:
    Essex
    Car:
    2007 CLS 320CDI,1984 500SL, 2007 E320 CDI Sport Estate, 1993 E320 Cabriolet sportline
    I have just done that Dave.....:bannana: :bannana:
     
  17. Wish

    Wish Hardcore MB Enthusiast

    Messages:
    123
    Joined:
    Jan 15, 2006

    If this is the case then I would suggest getting rid of this topic. Business is hard enough with out false information like this.
     
  18. Alfie

    Alfie Authorised Forum Sponsor Authorised Forum Sponsor

    Messages:
    7,580
    Joined:
    May 5, 2004
    Location:
    Surrey/Cotswolds
    Car:
    W169 A, W205 C, W451 smart
    Excellent.

    We should perhaps seek out the source of this 'rumour' and pass their details onto Greenoaks;)
     
  19. fyonn

    fyonn Hardcore MB Enthusiast

    Messages:
    342
    Joined:
    May 9, 2007
    Location:
    Manchester
    Car:
    BMW 330d
    did you ever know that you're my hero?
    and everything I would like to be
    I can fly higher than an eagle,
    because you are the wind beneath my wings!

    :)
     
  20. OP
    OP
    Robbo

    Robbo Hardcore MB Enthusiast

    Messages:
    850
    Joined:
    May 4, 2003
    Location:
    Berkshire
    Car:
    C320 (W203) & A170 (W169)
    Yes, that is very good news.

    The source was quoted on another forum and allegedly originated from an insider at the local Chambers of Commerce. Sounds like it is a load of rubbish.
     
    Last edited: Dec 2, 2008

Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.