5 YEARS LATER
'5 Years Later' is an occasional series looking back at the industry's collapse of 2008-09.
BILL LIA: Keep stores modernMon, 20, Oct 2014
"People keep asking us for our store designs," says Bill Lia, the 78-year-old CEO of Lia Auto Group in Albany, N.Y., which just finished building its 19th dealership. "We want to keep everything modern and up to date."
Timeline: Regrowing painsMon, 20, Oct 2014
A long, painful tripMon, 20, Oct 2014
MIKE WOOD: How hard are you willing to work?Mon, 20, Oct 2014
Long hours and hard work in the past few years turned Mike Wood from a dealership manager into a dealer with four stores. The market has been loaded with acquisition opportunities, he says, provided the buyer is willing to put in the sweat and hustle.
JERRY VITZTHUM: Out, in and then back out againMon, 20, Oct 2014
Dealers pursued opportunities from the rubble of '09Mon, 20, Oct 2014
In the five years that have passed since the economic crash of 2009, the auto retailing sector has emerged from the ashes. The transition has been painful. There are fewer car dealers in 2014. Many have been pressed by automakers to invest in new stores. But what was a bitter industry shakeout for some in 2009 has led to better times in auto retailing in 2014 for others.
'Cash for clunkers opened up the floodgates'Sun, 27, Jul 2014
The Car Allowance Rebate System, also known as cash for clunkers, was a lifeline at a desperate time for the U.S. auto industry. Nearly 700,000 vehicles were traded in through the nearly $3 billion program, which provided consumers as much as $4,500 each to trade in an old gas guzzler for a more fuel efficient new model.
June, July 2009 timeline: Beginning of recoveryMon, 28, Jul 2014
Inside GM's path to survivalMon, 02, Jun 2014
Five years ago this week, General Motors Corp. -- long a symbol of America's industrial might -- sought bankruptcy protection. Work on what would become the bankruptcy road map began within GM before outgoing President George W. Bush kept the automaker alive with a first round of U.S. rescue loans, contends Jay Alix, founder of AlixPartners, a corporate turnaround specialist with long ties to GM.