Automotive News Reports another round of GM dealer cuts

[Txflyer]

http://www.autonews.com/article/2009...905299971/1018

[dgale]

This is going to be round two of probably what will be three rounds of dealer terminations. The third round is supposedly coming the end of June where there will be more consolidations of dealerships, combining dealerships that sell ie Buick and GMC and most likely some undually. It still another 30 days of sleepless nights for most of us GM dealers. And after that who knows.

[Txflyer]

Originally Posted by dgale

It still another 30 days of sleepless nights for most of us GM dealers. And after that who knows.

Understood. I've been sleeping much better since we got our Chevrolet termination letter. The unknown was worse than dealing with the reality.

[XDCX]

Originally Posted by Txflyer

The unknown was worse than dealing with the reality.

That's a great statement - one I'm sure a most dealers would agree with.

This whole process has been a mess - it's not fair, it's not right, it doesn't even seem like it should be legal. That said, there's a lot of value to knowing where you stand and moving forward.

[F&I Pro]

According to my "bean counter" a GM dealer in Ga had their GMAC floorplan pulled this week and rumor has it a local GM dealer is facing similar issues....a third/fourth round for both GM dealers currently floored with GMAC and Chrysler dealers needing flooring through GMAC will most likely be those deemed undercapitalized by GMAC and with other floorplan sources drying up that could be devastating.