In a move revealing the further erosion of the exotic car market, Elite Autos LLC of Jonesboro Arkansas, once allegedly the largest seller of Ford GTs in the country , has now become one of the country's largest sellers of low end, high mileage cars, primarily directed at parents of college students.
In a press release, owner , Shelby "Good Guy" Smith said, "this was coming for a long time. The exotic market has inexpliably cratered ,-- in one day a once very high end Ford GT lost 30% of its value--that was it for me. Now, its small safe cars, that parents can feel feel safe at night knowing their kids are making beer runs in."
When asked why his inventory continued to have a Bugatti Veyron listed, Smith said, "that son of a bitch is never coming down."
Photos attached
In a press release, owner , Shelby "Good Guy" Smith said, "this was coming for a long time. The exotic market has inexpliably cratered ,-- in one day a once very high end Ford GT lost 30% of its value--that was it for me. Now, its small safe cars, that parents can feel feel safe at night knowing their kids are making beer runs in."
When asked why his inventory continued to have a Bugatti Veyron listed, Smith said, "that son of a bitch is never coming down."
Photos attached
