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It was the firsr definitive statement of exactly how many GM dealers in the statd were informed thay will lose their franchise agreementsin 2010. The Colorado Automobile Dealers Association previously had estimaterd the number at 13 to 15 based on reports from GM still is not releasing the names ofthe 1,322 dealers it plans to drop including the 15 in Colorado. The information came in a list releasesd by the House Energy andCommerce Committee's Subcommittee on Oversight and based on information providesd by GM.
Executives of GM and Chrysler, which plan to shed 14 Colorado dealers, testified before Congress about their dealerplans GM's car lines include Chevrolet, Pontiac, GMC, Cadillac, Saab, Saturn and Hummer. It has some 6,000 dealerships nationwide. Letters sent in mid-May to GM dealer s the company plannedto drop, a copy of whic was obtained by the Denver Business Journal, said the automaker reviewer each of its dealers' sales profitability, capitalization, location and facilitiex along with other "market patterns." .
"Base d on our review and current and foreseeable market conditionw andyour dealership's historical we do not see that GM can have a productiver business relationship with [name of dealership] over the long said the letter, dated May 14. About 92 of Colorado'es 264 auto dealerships sell one or more GM said Tim Jackson of the state autodealers group. Additional dealersx may lose theirfranchises later, GM has said.
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