29th
May
2009
REPORT: GM preparing to give more dealerships the axe
posted in GM, General Motors |
Filed under: Car Buying, GM, Pontiac, Earnings/Financials, Rumormill
On top of the 1,124 General Motors dealers that will be closed next year, the ailing automaker is reportedly going to announce another round of dealer closings on Monday when its bankruptcy declaration is expected. According to two Automotive News sources, 450 dealers will not see their dealer franchises renewed. For his part, Mark LaNeve, GM's VP of North American sales, said the number would be "less than half that."
No matter the number, it's more of the same bad-yet-necessary news being spread around. LaNeve notes that the dealers who won't be renewed "have very specific issues" including "specific performance issues." Among them are supposed to be some stores that are skewed exclusively or heavily Pontiac. These dealers will be shutting up shop when their franchise agreements expire in October 2010.
[Source: Automotive News -sub req'd | Image: Mark Ralston/Getty]
REPORT: GM preparing to give more dealerships the axe originally appeared on Autoblog on Fri, 29 May 2009 18:29:00 EST. Please see our terms for use of feeds.
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