Ford dealer Jim Seavitt has an uneasy feeling in the pit of his stomach these days that’s reminiscent of how he felt about 17 years ago.
“We’re down 50% in leads. Everything’s off 40% to 50%. People just aren’t looking at cars right now,” Seavitt, who owns Village Ford in Dearborn, told the Detroit Free Press. “It reminds me of 2008 when the mortgage crisis hit. It’s looking like it’s the starting of a crisis. This whole uneasy feeling right now.”
Seavitt was referring to the start of the Great Recession in 2008. His disquiet is shared across the industry.
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