Probably a case of “too little, too late,” but I wish them luck.

GM notifies 1,100 dealers they’re out

Automaker makes big cut as part of plan to drop 40% of dealer network. Many are expected to leave business this year.

NEW YORK (CNNMoney.com) — General Motors notified 1,100 of its 6,000 dealerships Friday that it is terminating their contracts with the struggling automaker, the first step in an even deeper 40% cut in its retail network.

GM spokeswoman Susan Garontakos said that the dealers receiving notice Friday are being told that their contracts will not be renewed in October 2010. Many of them are expected to close shop this year.

The company has told the Obama administration that it plans to cut its network down to 3,600 dealers by next year. [...]

The move comes a day after Chrysler LLC announced that it is dropping nearly 800 Chrysler, Dodge and Jeep dealers, or about a quarter of its network, as part of its bankruptcy restructuring.

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