Denny Hecker announced on Friday night that he is selling three dealerships and closing six more.
Four hundred Twin Cities employees are out of a job immediately.
A spokesman for Hecker Automotive Group says the bad economy is behind the decision to scale back.
The locations that are shutting down include Blaine, Forest Lake, Monticello, Roseville, Shakopee and Stillwater.
Hecker says the three dealerships being sold are going to private investors.
Hecker will continue to run seven other dealerships in Minnesota and Los Angeles.