• April 28, 2009

The National Automobile Dealers Association is voicing its displeasure about the phase-out of Pontiac. John McEleney, chairman of the Association, said on Tuesday that GM should compensate dealers affected.

"GM was short on details. So, there's a lot that we don't know. But we do know that this will accelerate GM's loss of revenue and market share. By closing 2,641 dealerships in 18 months instead of five years, GM could lose an estimated $35 billion in sales revenue," said McEleney, in a release. He argued that the closures would also lead to state and local governments losing $1.7 billion in sales tax revenue.

"For the 2,627 Pontiac dealers, this is a day of disappointment but not total surprise."--Karl Greenberg