NADA Having to Yield to GM's Future Plans
This restoration of GM's assets brought talks and fervent statements about a new era ushering in for the US car maker. Articles swampped the media about how the good old days are back in sight for the company and how GM is thankful for this life saving government aid.
The firm steps GM proclaimed included the restructuring of Chevrolet, Buick, GMC and Cadillac so by the 2010 they will have lined up a total of 34 US nameplates; reducing overall US employment from about 91,000 at the end of 2008 to about 64,000 by the end of 2009 and cutting down the number of GM dealers in the States from 6,000 to 3,600 by the end of 2010.
Following the developments and GM's exit from bankruptcy, NADA (National Automobile Dealers Association) released this statement attributed ot its chairman, John McEleney:
“This has been a difficult and wrenching process for everyone involved. Obviously, for GM to get out of bankruptcy so quickly is a good thing. This will now allow GM dealers to focus their full attention on selling and servicing GM products. This also helps restore some certainty to GM's future which will help stabilize the entire auto industry. The auto industry has been in an economic slump, with the GM bankruptcy serving as a major distraction for the American public. We hope the emergence of GM from bankruptcy will mark a turning point toward restoring greater consumer confidence. The National Automobile Dealers Association will continue to pursue legislative relief (H.R. 2743/ S. 1304) to protect state franchise laws and other relief for those GM dealers adversely affected by this process.”