GENERAL MOTORS CLOSING 1,700 DEALERSHIPS
April 16th, 2009Via: Reuters:
General Motors Corp has told U.S. dealers it is accelerating its timetable for closing about 1,700 dealerships as it rushes to meet a June 1 deadline to restructure under U.S. government oversight, people with knowledge of the discussions said.
In a series of meetings with key dealers including representatives of the National Automobile Dealers Association, GM executives also said about 200 dealerships had closed in the first quarter, according to people briefed on those talks.
The sources asked not to be named because of the sensitive nature of GM’s discussions with its cash-strapped dealers.
