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GM offers 5 more dealers reinstatement

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GM offers 5 more dealers reinstatement

David Shepardson / Detroit News Washington Bureau

Washington -- General Motors Co. has upped the number of dealers that it has offered to reinstate to 666, from 661 announced previously.

The higher figure was disclosed this morning in a report to Congress from the special inspector general overseeing the $700 billion Troubled Asset Relief Program.

GM spokeswoman Ryndee Carney confirmed the higher figure, saying a few more had been added after GM's North American president Mark Reuss briefed reporters on March 5.

She declined to say how many dealers had been reinstated and had met the criteria laid out in the reinstatement letters.

GM said it had offered letters to a majority of the 1,160 dealers that had challenged their planned closing by the end of the year. Congress approved an arbitration process for dealers that were closed or ordered closed by Chrysler Group LLC and GM during their bankruptcy restructurings last summer.

Carney said GM believes that "a majority of dealers will be able to meet the criteria and be reinstated."

Separately, the special inspector general is conducting an audit of GM and Chrysler's decisions to close dealers. Chrysler closed 789 dealers last year -- or a quarter of its dealers. The automaker has offered to reinstate 86 dealers.

From The Detroit News: http://www.detnews.com/article/20100420/AUTO01/4200398/1148/auto01/GM-offers-5-more-dealers-reinstatement#ixzz0lfpyP6dn

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