From our colleagues at Cars.com, GM will announce the start of a major plan to trim its dealer network of some 2,400 stores over two years. The first cuts will come today when about 1,100 stores are expected to receive word that GM will not renew their franchise contracts after October 2010.
Yesterday, Chrysler alerted 789 of its franchises that they would be terminated. Unlike Chrysler, though, GM isn't releasing the names of dealers on its hit list.
While GM says these stores could operate through spring of 2010, it’s possible they could go out of business long before their contracts expire. Also, dealers notified today don't include approximately 450 likely to close when GM kills the Hummer, Saab and Saturn brands.
GM will announce its formal plans later today.