General Motors has announced it is closing 1,100 of its U.S. dealerships. The move comes as the company sits on the brink of bankruptcy. GM is expected to ultimately close more than 2,300 dealerships by the end of 2010.
GM Dealership Closures
The specific General Motors dealerships closing list has yet to be revealed. GM says it will be holding discussions in the coming weeks to make its final decisions. The process, according to published reports, is beginning today.
The GM dealerships in question reportedly have 120,000 unsold vehicles valued at $2.5 billion. All of the GM dealership closures are expected to occur by next October.
General Motors announced it was cutting 47,000 jobs this past February. In April, the company discussed further cuts, including the elimination of the Pontiac brand .
Chrysler, meanwhile, revealed this week that it was shutting down a quarter of its American dealerships. A full list of Chrysler dealerships closing can be found here .
