Automobile Dealership Closures
Witnesses examined the recent auto dealership closures announced by Chrysler and General Motors. Chrysler plans to close 789… read more
Witnesses examined the recent auto dealership closures announced by Chrysler and General Motors. Chrysler plans to close 789 dealerships this week and GM wants to eliminate approximately 2,500 of its 6,000 dealerships by the end of next year.
The automakers said that large dealer networks now represent a drain on the companies. They argued that they would save billions on support costs, incentive payments and other costs by closing dealerships that perform poorly or do not fit restructuring plans.
Auto dealers said closing so many dealerships would eliminate tens of thousands of jobs, hurt local economies and do little to improve the automakers' long-term prospects.
See program id # 286995-2 to view the continuation of the hearing. close
*The transcript for this program was compiled from uncorrected Closed Captioning.
People in this video
- Frank Blankenbeckler Auto Dealer Waxahachie
- Frederick "Fritz" A. Henderson Chief Executive Officer (Interim) General Motors
- Daniel Keikenapp Auto Dealer Tacoma
- John McEleney Chairman National Automobile Dealers Association
- Duane Paddock Auto Dealer Kenmore
- James E. Press President and Vice Chairman Chrysler Corporation
- Robert Thomas Auto Dealer Bend
- Joe Barton U.S. Representative [R] Texas
- Bruce Braley U.S. Representative [D] Iowa
- Diana L. DeGette U.S. Representative [D] Colorado
- John D. Dingell Jr. U.S. Representative [D] Michigan
- Michael "Mike" F. Doyle U.S. Representative [D] Pennsylvania
- Gene Green U.S. Representative [D] Texas
- Janice "Jan" Schakowsky U.S. Representative [D] Illinois
- Bart Stupak U.S. Representative [D] Michigan
- Betty Sutton U.S. Representative [D] Ohio
- Greg Walden U.S. Representative [R] Oregon
- Peter Welch U.S. Representative [D] Vermont
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