General Motors to declare bankruptcy tomorrow

Tomorrow will be a truly sad day for the automobile industry. General Motors, the largest automobile manufacturer in the world, bankrupt. It just doesn't make sense saying it, even though we've been talking about it for months now.General Motors was once THE company to watch in the industry. You could have said, what General Motors wants is what America wants. Unfortunately that isn't the case any more. Poor management decissions and the inability to keep up with market trends led to yearly losses in the billions of dollars. Couple that with legacy...

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Chrysler names C. Robert Kidder as Chairman of Chrysler LLC

Bob "The Builder" Nardelli will be stepping down from his post as Chairman of Chrysler LLC when a new leaner Chrysler emerges. We won't be too critical of Mr. Nardelli in the fact that he really didn't grow Chrysler all that much, as that would take an entire blog all to itself. Rather we'll focus on the new Chairman of Chrysler LLC, C. Robert Kidder formerly of the Borden Chemical Inc. and Duracell Batteries. Mr. Kidder has a very impressive resume...

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NADA responds to GM dealer announcement

The National Automobile Dealers Association won't go quietly into the night. They are continuing to fight for the Chrysler dealers who were cut yesterday, and the announcement earlier regarding General Motors announment with the reduction of some 1100 GM dealers by the end of 2010.Source: NADAWASHINGTON (May 15, 2009) -- General Motors’ plans to cut its dealer network are drastic and far-reaching and will impact more than 63,000 dealership employees and thousands of their sales and service customers.We view GM’s action with a profound sense of...

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GM dealer network update

General Motors is going a different route than Chrysler LLC in regards to their dealer network. Rather than just say adios, you're done. GM is electing to not renew sales and service agreements with 1100 dealers when they come available for renewal in the 4th quarter of 2010.Dealers targeted were stores that have poor annual sales 35 units or less per year. That makes up 400-500 of the dealers. The rest are not meeting their required sales and service performance, CSI, etc. that are performing below average. These 1100 dealers make up 7% of GMs...

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GM to cut 1100 dealers today

Following in the steps of Chrysler LLC yesterday, General Motors is planning to announce the closure of 1100 GM dealerships this afternoon. A press conference call is scheduled for 12 noon. We will update you with further details as they become available....

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NADA responds to Chrysler's dealer announcement

As the U.S. dealer network continues to take in the loss of 789 Chrysler, Dodge & Jeep dealerships. The National Automobile Dealers Association weighs in on the truth of the matter.Source: NADAToday’s announcement by Chrysler that it is rejecting 789 of its Chrysler, Dodge and Jeep dealers marks a very sad day in retail automotive history.These dealers and their more than 40,000 employees have done nothing but proudly represent the Chrysler brand through good times and bad, and today find themselves left behind as the company reorganizes itself...

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Chrysler to close 789 dealers.

In compliance with bankruptcy protocol, Chrysler LLC is exercising the option to close 789 Chrysler, Dodge, and Jeep dealers across the United States. This is just one of the many steps being taken to return Chrysler to profitability when they emerge from bankruptcy proceedings and the new aliance with Fiat.44% of the dealers affected have dual brands, meaning Chysler & Dodge, Dodge & Chevrolet etc. So some dealers will only loose one brand. But one of the key alignments is to align the dealers with the expected annual sales numbers of...

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