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New Oakland Toyota/Scion megadealer closes after two months

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New Oakland Toyota/Scion megadealer closes after two months


Just two months after opening the doors to its brand-new, 200,000-square-foot dealership, Superior Toyota/Scion of Oakland is no more. The giant automotive retailer, with more than 40 service bays and as many as 1,200 cars on the lot at a time, closed last week after Nissan pointed at the economy and then pulled Superior's financing (although the dealer sold Toyota and Scion products, Nissan provided the loan for the new $36 million building). Without credit, the Superior Auto Group dealership was unable to do business. "I can't buy any more cars. Can't sell anything. The cars are still on the lot, but Nissan owns them now," said owner Michael Kahn. The megastore in Oakland wasn't the only one to go dark. All told, Superior Auto Group closed nearly a dozen sister dealerships throughout California last week. Thanks for the tip CPT!


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I don't get why it's tagged as a Toyota/Scion dealership, yet all of the funding only came from Nissan. :confused0071:

Clearly Nissan is in more than just the auto business, but also has a hand in the financial business.

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