GM, which has until June 1 to cut its debts and restructure its finances or face filing for Chapter 11 bankruptcy protection, yesterday told 1,100 less profitable garages that it plans to terminate their franchise agreements by the end of next year. The move comes just a day after Chrysler said it plans to cut 789 of its 3,181 dealerships, bringing the total number of car industry jobs to be lost by the end of 2010 to around 100,000General Motors follows Chrysler's route and shuts dealerships
GM is to close about 2,300 dealerships from its 6,000-strong US network as part of last-ditch plans to avoid bankruptcy.
Sunday, 17 May 2009
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