BX car dealership feels brunt of recession

EDENWALD - Massive layoffs and an uncertain future are hitting close to home for a Bronx car dealership as it feels the brunt of the recession.

The showroom is empty at Cox Nissan after the new cars were removed during the past several days. According to owner Keith Cox, the dealership was faced with financial problems and had no other choice. Cox was also forced to lay off 80 workers.

In addition, Cox says he recently spent millions of dollars on renovations and upgrades. He believed pumping money into the dealership would eventually drum up business. However, now he says the dealership loses approximately $300,000 a month.

The service center at Cox Nissan remains open. Pre-owned cars are also still available.

advertisement | advertise on News 12

Trending Video

A study says 88 percent of walking trips 1 Word on the Street: Walking with GPS
VIDEO: Suspected gang members arrested in the Bronx 2 VIDEO: Suspected gang members arrested in the Bronx
VIDEO: Bronx restaurant owner attacked, robbed in apartment 3 VIDEO: Bronx restaurant owner attacked, robbed in apartment building
Trump's keynote address last night at the Republican 4 Melania Trump's speech shrouded in controversy over plagiarism
Sea Cliff's Troy Ramey was voted off 'The 5 Elisa's Entertainment for 4/26

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE