Scion dealers may be feeling a bit out of sorts as I write this. They learned today that their brand is being discontinued. Toyota has pulled the plug on the brand established in 2003 as, according to the Toyota press release, “a laboratory to explore new products and processes to attract youth customers.”
For sure, the brand has lost some of its cachet with “youth” though I hear its popularity with the older car-buying set was rising. The good news for Scion dealers is that they are all also Toyota dealers. So the value of their dealership will remain strong, buy/sell experts tell Automotive Buy Sell Report in this issue. That doesn’t mean the loss will be without cost to dealers, however. They will need to pay to repurpose the area formerly devoted to the brand.
Dealers probably wish Toyota had communicated the upcoming demise of one of their brands a bit more clearly. When you are in the midst of a buy/sell transaction, communication is also very important to keeping the deal on track. In this issue, in the second part of a series on preparing to sell your dealership, Rick Kotzen of Crowe Horwath discusses the importance of clear communication with not just the buyer, but also all the professionals involved in making the deal happen. Lack of it can slow a deal down, something you definitely don’t want to occur.
Then there is, as always, the belle of the ball, Transaction News.
One Comment
tony toohey
Alysha,
Your analogy is without merit. As a Toyota dealer who wasn’t a big Scion seller but made the investment, I would be the guy to jump on your bandwagon. However, my feeling is that they finally realized that what dealers like I have believed for some time is the truth and finally made the adjustment. As usual, Toyota does what is right for dealers and customers. No need to chastise them. They are the best. Thanks for giving me the opportunity to respond.