Thursday, June 11, 2009
All should know about GM Bankruptcy. For restructuring and enhancement to improve selling GM should take some decisions about dealerships. They are,
General Motors has decided to wind down more than 30 dealerships and about 500 more requests from dealerships are reviewed.
On May 15, GM sent termination letters to 1,124 dealerships. Since for Chapter reorganization June 1, the company has added about 250 more stores to its list.
GM wants ultimately 3600 to 3800 dealerships. So they reduce their dealerships upto 2200 from overall 6000 dealerships. So far, 4,100 dealerships have been offered a chance to participate as surviving dealerships.
GM set up a process allowing a dealer with a franchise goal for termination to submit data supporting to reverse the decision. So far more than 500 dealerships have submitted appeals, spokes by GM spokesman Pete Ternes.
Nearly all 1,100 dealers filed an initial appeal, according to GM figures.
GM has not made publish the names of dealerships that received termination letters, and it did not identify the 30 that won a reprieve.
GM will make final decision by the end of this week Ternes said.
General Motors has decided to wind down more than 30 dealerships and about 500 more requests from dealerships are reviewed.
On May 15, GM sent termination letters to 1,124 dealerships. Since for Chapter reorganization June 1, the company has added about 250 more stores to its list.
GM wants ultimately 3600 to 3800 dealerships. So they reduce their dealerships upto 2200 from overall 6000 dealerships. So far, 4,100 dealerships have been offered a chance to participate as surviving dealerships.
GM set up a process allowing a dealer with a franchise goal for termination to submit data supporting to reverse the decision. So far more than 500 dealerships have submitted appeals, spokes by GM spokesman Pete Ternes.
Nearly all 1,100 dealers filed an initial appeal, according to GM figures.
GM has not made publish the names of dealerships that received termination letters, and it did not identify the 30 that won a reprieve.
GM will make final decision by the end of this week Ternes said.
digg it 
