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Friday, June 23, 2023 12:41:54 AM
No one fronts all that $$$ to start a dealership based on an unproven car manufacturer. But Exact Car / Open Trade / Clear Market Inc. already had a (single) location as car brokers / consignors. Their initial lease ended August of 2022. Probably had an option for an additional year(s) and that when they stopped paying rent. Not really germane. Basically their business model as car brokers became really viable because of Covid and peeps became very comfortable buying cars online. But the business model got destroyed by Jerome Powell and his rate increase policy.
Picture (March 2023) of E-Cite's COO shows no/few cars in the background. The eviction process already started?
Picture of 18120 Studebaker's leasing history per CoStar
Gil Feig of Clear Market Inc. / Open Trade / Exact Car
https://www.linkedin.com/in/gil-feig/
https://opentrade.com/
Picture of Gil Feig with the Clear Market / Open Trade emblem
Picture of Gil Feig
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