GM is set to close the year with 4,500 dealers in its network; approximately 500 fewer than previously announced. Prior to bankruptcy, the network was 6,150 dealers strong. President of GM North America Mark Reuss announced the new figure today before a group of bankers and analysts at GM”s Warren Technical Center. “We are strategically aligning these franchise points so we don’t have overlap,” Reuss said.
While Reuss did mention that GM would have about 5,000 dealers at the conclusion of arbitration, he did warn that the number changed everyday as cases concluded.
CEO Ed Whitacre also spoke to the group, outlining the company”s recent strong performance and plans for the future as GM heads toward an IPO. “We’re not reintroducing GM today. We’re introducing a new GM, because we are a new and much different company than we were 12 months ago,” he told the group.
-By: Stephen Calogera
Source: Detroit News