I was wondering if any of you know any car dealers and what they...

I was wondering if any of you know any car dealers and what they intend doing re financing their floor plans since the news that GE Money and GMAC Finance's intention of pulling out of Australia. (I understand they had 60% of the market)

It was also reported that Ford Credit could also cease operations. (which would leave about half the nation's Ford dealers without finance.)

The Age stated yesterday that already "the collapse of some country dealers has meant new cars are being sold at auction — a development that Mark Thorne, of Pickles Auctions of Sunshine, believes is unprecedented."

This is alarming as one can envisage around the capitals tens of thousands of late model cars being crammed into auctions going for a song - which in turn will decimate our new car industries? I have heard rumours that dealers are having to find millions of dollars by the 15th December to refinance their floor plans.

Any info would be appreciated.