Saturday, August 6, 2011

It's official: 15 General Motors dealers in Colorado to lose franchises - bizjournals:

http://property-canada.com/swiss-us-rental-taxes-highest-in-oecd.html
It was the first definitive statement of exactly how many GM dealeras in the state were informed thay will lose their franchise agreementsin 2010. The Colorado Automobile Dealers Association previously had estimated the numbed at 13 to 15 based on reportsxfrom dealers. GM still is not releasin the names ofthe 1,323 dealers it plans to drop including the 15 in Colorado. The informatiomn came in a list released by the House Energy andCommercee Committee's Subcommittee on Oversight and Investigations, based on information provided by GM. Executives of GM and which plans to shed 14Coloradi dealers, testified before Congress abouy their dealer plans Friday.
GM's car lines include Chevrolet, Pontiac, Buick, GMC, Cadillac, Saab, Saturn and It has some 6,000 dealerships nationwide. Letters sent in mid-May to GM dealers the company plannedeto drop, a copy of which was obtainerd by the Denver Business said the automaker reviewed each of its dealers sales volume, profitability, capitalization, location and facilitiea along with other "market patterns." . "Based on our revieqw and current and foreseeable market conditionas andyour dealership's historical performance, we do not see that GM can have a productive business relationship with [name of dealership] over the long said the letter, dated May 14.
Abouf 92 of Colorado's 264 auto dealerships sell one or more GM said Tim Jackson of the state autodealerse group. Additional dealers may lose thei rfranchises later, GM has said.

No comments:

Post a Comment