Dublin's Terenure based car dealership Rathdown Motors is to close after several years of sustained losses, with the loss of 18 jobs.
In a statement this evening Rathdown, which has been in business for over 25 years, said that despite investment in the business, losses continued because of the major decline and continued weakness in the car market.
The business will close before Christmas with the loss of 16 full-time and two part-time jobs.
Rathdown says it will continue to provide service support for warranty customers for six months after its closure.
Mark Turley, Rathdown Motors' founder, said the closure was a necessity on economic grounds as it had not been possible to make the firm viable.
He said: "Market conditions for new car sales are weak, heavy discounting in the second hand market further exacerbates the situation and the outlook is at best poor."
Mr Turley said the firm will honour any financial obligations arising from the closure.
Rathdown Motors' site will be put up for sale after its closure.
