Community | May 15, 2009 | 5 comments

GM Drops 40% of its Dealers

source: http://money.cnn.com/2009/05/15/news/companies/gm_dealers/index.htm?postversion=2009051509

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General Motors notified 1,100 of its 6,000 dealerships Friday that it is terminating their contracts with the struggling automaker, the first step in an even deeper 40% cut in its retail network.

GM spokeswoman Susan Garontakos said that the dealers receiving notice Friday are being told that their contracts will not be renewed in October 2010. Many of them are expected to close shop this year.

The company has told the Obama administration that it plans to cut its network down to 3,600 dealers by next year.

Much of the rest of the cuts will come from GM's plans to sell or close four brands - Saturn, Hummer, Saab and Pontiac.

(Full article at link)
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