The recession has claimed Oates Garages in County Durham.
The family-run dealership, which represented Nissan for 28 years, was founded in 1939 by Syd Oates, grandfather of current managing director Michael Oates.
A statement on its website said: "It is with regret that due to the fact trade has been reducing over the last 12 months but has seriously deteriorated since May, the directors have had no alternative but to cease trading immediately and take steps for the voluntary liquidation of the company."
Ferguson & Co of Stockton On Tees will be appointed liquidators.
The business earlier this year cancelled a planned move to a new site, choosing instead to expand the parking and workshop of its existing premises.