Haydocy is not the only frustrated Oldsmobile dealer. GM s decision to cancel Oldsmobile last week opened a financial can of worms for the brand s 2,800 dealerships. The value of their stores plummeted, and many customers won t want to buy from a lame-duck brand.
Dealers expect heavy employee turnover in the next few months.
The revolving door could force them to close their operations much sooner than they would like. We have been in business a long time. Bozarth, president of Ed Bozarth No. Real estate brokers say the value of Oldsmobile dealerships has been declining for at least eight years. There have been very few GM dealerships that have changed hands in the last five years.