Just like Chrysler did yesterday, GM has announced plans to close 1,100 of its "underperforming" dealers.
Although GM has identified the 1,100 dealers that will be closed, the automaker is not closing any dealerships today. GM will be working with the dealerships over the next few weeks to come up with a long term plan. It is expected that their will be a wind-down of the affected dealers over the next year. This is in contrast to Chrysler's plans to close its affected dealers by June 9th.
GM likely to announce more dealer cuts in the future since the automaker wants to pare down its network from 5,969 stores to approximately 3,600 by the end of 2010.
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