After almost a year in operation, McKenna Motors has closed its doors, citing the tight economy for the closure.
Owner Patrick McKenna said so many banks had dropped their auto divisions that it was difficult for people to find car loans.
"Eight major lenders shut down their auto divisions," McKenna said, including Citibank, Household Finance, Fireside Bank, and Wells Fargo. "Even when you do get the customers, the bank funding tightened up."
The dealership officially closed at the end of May, after 11 months in operation in the old Taco Time building on the corner of Highway 395 and Highland Avenue. The location, said McKenna, was ideal.
"We started out like gangbusters," McKenna said. By October, when the major car companies were before Congress asking for money to keep afloat, the recession had hit his business. While he believes the market is on an upward turn, the company couldn't recoup its losses.
"We never recovered," he said, despite the large inventory he had built up.
McKenna sent letters to all his customers with his e-mail address and cell phone number in case they have any problems with their cars. He wants to be certain his customers are taken care of.
"I'm disappointed," McKenna said. "But I'm still around."