Winston-Salem Town Hall Meeting
NCADA’s Annual Town Hall Tour provides dealers an opportunity to discuss important industry issues with their peers.
Read more...Boone Town Hall Meeting
NCADA’s Annual Town Hall Tour provides dealers an opportunity to discuss important industry issues with their peers.
Read more...NCADA Young Dealers Meeting
NCADA’s Young Dealers Group is comprised of industry professionals who share a passion for the family business. They represent second, third and fourth generation family dealerships from across North Carolina. This group meets quarterly for networking, leadership development and training.
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General News
March 8, 2010
GM TO REINSTATE NORTH CAROLINA CAR DEALERS
General Motors Co. announced on Friday that it is preparing to reinstate half of the dealerships that it originally attempted to close as part of the automaker’s 2009 bankruptcy proceedings. North Carolina dealers have already begun to receive phone calls from GM representatives about reinstatement letters that could come as early as this week. It is expected that 20-25 dealers in North Carolina will be offered their GM franchise back, although the actual number has not been released.
Across the country, 661 of the 1,160 dealerships originally rejected by GM will be offered reinstatement. All of the dealerships that are being reinstated are involved in arbitration hearings with GM. Congress mandated the hearings late last year after numerous dealers argued they had been eliminated by GM without cause.
“This is huge for those North Carolina dealers who are being reinstated,” shares Robert Glaser, president of the North Carolina Automobile Dealers Association (NCADA). “These dealerships will be able to rehire employees and once again start contributing to their communities, sponsoring little leagues and supporting local charities.”
In 2009, North Carolina lost an estimated 50 GM dealerships across the state as a result of the GM bankruptcy. While a few of those dealerships have already closed their doors, the majority have been operating under a “wind-down” agreement with GM.
“This has been an extremely difficult period for our franchised dealers and their employees,” shares Glaser. “We are thankful that GM is taking steps to reinstate dealers and we believe this is an important step in the recovery of the auto industry,”
The North Carolina Automobile Dealers Association (NCADA) is a trade association representing North Carolina’s franchised automobile, truck and RV dealers. Formed in 1935, today’s NCADA actively represents nearly 600 new car, truck and RV dealers.
