Wednesday, October 31, 2012

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

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It was the first definitive statement of exactlyt how many GM dealers in the statew were informed thay will lose their franchise agreementsin 2010. The Colorado Automobile Dealers Associatiob previously had estimated the numberf at 13 to 15 based on reportwsfrom dealers. GM still is not releasing the namex ofthe 1,323 dealers it plans to drop including the 15 in Colorado. The information came in a list released by the House Energy andCommercw Committee's Subcommittee on Oversight and Investigations, baseds on information provided by GM. Executives of GM and Chrysler, whicy plans to shed 14 Colorado dealers, testifief before Congress about their dealer plans Friday.
GM's car lines include Chevrolet, Pontiac, Buick, GMC, Saab, Saturn and Hummer. It has some 6,000 dealerships Letters sent in mid-May to GM dealersd the company plannedto drop, a copy of whichj was obtained by the Denver Business Journal, said the automakee reviewed each of its sales volume, profitability, capitalization, location and facilitiezs along with other "market patterns." . "Based on our review and currenrt and foreseeable market conditions andyour dealership's historical we do not see that GM can have a productiver business relationship with [name of dealership] over the long said the letter, dated May 14.
About 92 of Colorado's 264 auto dealerships sell one or more GM said Tim Jackson of the state auto dealers Additional dealers may lose theirfranchises later, GM has

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