The Crosson Motor Group, once one of the capital's largest franchise dealerships, has sold its last car after the company agreed to sell its remaining showroom in the north Dublin suburb of Swords. The sale brings to an end 50 years of the Crosson motor retailing group, which was once Opel's best performing dealership in Dublin.
The sale of the Swords showroom to neighbouring car dealer, Des Darcy Motors, came shortly after an agreement was reached between the Crosson Motor Group and the Spanish carmaker, Seat, for the group to take on the Seat franchise at its north Dublin outlet. It is expected that Des Darcy will take on the franchise instead.
Over the past 12 months, Crosson has steadily been selling off its motor retail assets.
In 2006 it sold its Opel business to the Windsor Group, an associate company of Nissan Ireland. The deal means Windsor now operates two Opel sites in Dublin in addition to its Nissan operations, making it Ireland's largest motor retailing group.
Late last year, in a move that is being replicated by urban-based dealerships in many Irish cities, the Crosson Motor Group sold its HQ on the Malahide Road in north Dublin to a property developer.
The deal, which was reported by The Irish Times, netted the Crosson Group an estimated €15 million.
A Dublin developer bought the 2.2-acre site at the new town centre on the Malahide Road after it was proposed as part of a new high street that will link into the new Dart station. This sale was followed by that of the group's Mercedes-Benz van business to Dublin's M50 Truck Centre.
Many dealers are finding that with massive investment costs associated with running a franchise and ever decreasing profit margins, there is a growing temptation to sell their urban sites for development and exit the motor retail industry.
Over the past two years, several manufacturers, most notably but not exclusively, Fiat and Citroën, have lost some of their best performing dealers after they sold up and left the business.
Sean Crosson, the managing director of the Crosson Motor Group, said his company's departure from the motor retail business was driven by falling profits and more attractive business propositions elsewhere. "These Crosson sales continue a pattern of dealerships exiting the motor retail trade," he said.
"The group continues to have property interests and is involved in car and commercial vehicle leasing and contract hire - these areas of investment have been commercially more attractive than volume car retailing in recent years."