Holdiman Motor closing its doors - KWWL - Eastern Iowa Breaking News, Weather, Closings

Holdiman Motor closing its doors

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CEDAR FALLS (KWWL) -

After nearly 44 years of operating in Cedar Falls, Holdiman Motor is closing its doors.

Owner Tom Holdiman says the sales portion of the dealership closed Tuesday and the service department is scheduled to close by the end of this week.

Holdiman says the federal government bailout of Chrysler Corporation in 2008, which led Chrysler to file federal bankruptcy and the termination of hundreds of Chrysler-Jeep-Dodge automobile dealer franchises across the country, paired with the economic downturn, led to the decision.

Holdiman says the loss of his Chrysler-Jeep new car franchise and the country's economic woes fundamentally changed his business model.

Holdiman wants to express his appreciation to his loyal customers and thanks them for their business over the years.

"It has been a pleasure serving the automobile needs of people in the Cedar Valley over these past 45 years, and I count many of my customers as personal friends. This has been a wonderful place to live, raise a family, and do business, and my family and I intend to remain in the Cedar Valley," Mr. Holdiman said in a written statement.

He also thanks his dedicated employees for their high level of service and commitment to the needs of his customers.

Holdiman's father, Jim, opened Jim Holdiman Motor in September 1967 on East 14th Street in Cedar Falls, as an American Motors franchise.

In 1972, The business moved to its present location at 4325 University Avenue in Cedar Falls and became a Chrysler dealership in 1977.  Tom purchased the business from his father in 1978. 

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