NADA Responds to General Motors Restructuring Plan


MCLEAN, Va. (Feb. 17, 2009) - The following is a statement from John McEleney, chairman of the National Automobile Dealers Association, in response to General Motors restructuring plan:

“General Motors has submitted a strong plan. It's comprehensive and aggressive and achievable. We are, of course, exceedingly disappointed that a viable solution has not yet been found for Saturn, Saab and Hummer. When considering the future viability of these brands, GM should continue to aggressively pursue all options. We are pleased that GM recognizes the 'great dealer network' that supports these brands. Should it become necessary to phase out these brands, it is imperative that GM treat the affected dealers fairly and that they be properly compensated. It is equally important to take care of the Saturn, Saab and Hummer owners. On the positive front, we are encouraged that GM recognizes that the availability of credit for automotive consumers and dealers is central to GM's survival. We look forward to working with GM and the government to free up credit, both at the wholesale and retail level.”

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