The automotive bloodbath continues today as GM plans to eliminate up to 1,200 dealerships. The dealers could start getting notification as soon as Friday.
The source said that GM has been losing 60 to 65 U.S. dealers per month as those retail franchises succumb to the unprecedented industry sales downturn.
U.S. auto sales are near 27-year lows with no signs of immediate recovery in sight.
This news comes on the heels of yesterday’s announcement that Chrysler will eliminate over 700 dealerships and 38,000 jobs.