1,100 GM Dealerships Closing in U.S.
General Motors on Friday told about 1,100 of its dealers, some 20 per cent of the total number, will be closed by late next year. Dealers across the nation are awaiting word from the company on whether they will be fired.
The GM dealerships will be eliminated when their contracts end late next year, that is, their franchise agreements will not be renewed.
A day earlier, Chrysler announced that it will eliminate a quarter of its own dealerships.
Both moves of Chrysler and GM will hit hard communities and it will affect heavily local media where dealership placed their ads.
Associated Press reports that the GM and Chrysler cuts combined could wipe out 100,000 jobs.
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