Automakers and Closings: Hold Your Horses!

After top auto makers announced thousands of dealerships closing, the government is now stepping in and saying "not so fast!"

Chrysler and General Motors had said they needed to close the over 3,000 showrooms and dealerships in order to keep their business go0ing properly in these hard times, and make sure anyone buying a new car gets proper service from their car dealers.

But they soon discovered they might face federal disapproval of these measures, and are now the car manufacterers are showing they now how to hit the brakes. GM and Chrysler will now hold further reviews of their dealers, and agree to arbitration with them before closing. For full details see here:

Automakers and Closings: Hold Your Horses!
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General Motors and Chrysler will reconsider decisions to close thousands of dealerships... Automakers have said they needed to close the stores to save money and make sure that remaining dealers had enough sales to stay profitable and offer good customer service. Having fewer dealers also gives the automakers more pricing power and helps resale values...

Automakers and Closings: Hold Your Horses!