NADA Statement on General Motors' Emergence from Bankruptcy


MCLEAN, Va. (July 10, 2009) - The following is a statement from John McEleney, chairman of the National Automobile Dealers Association, on General Motors' emergence from bankruptcy:

“This has been a difficult and wrenching process for everyone involved. Obviously, for GM to get out of bankruptcy so quickly is a good thing. This will now allow GM dealers to focus their full attention on selling and servicing GM products. This also helps restore some certainty to GM's future which will help stabilize the entire auto industry. The auto industry has been in an economic slump, with the GM bankruptcy serving as a major distraction for the American public. We hope the emergence of GM from bankruptcy will mark a turning point toward restoring greater consumer confidence. The National Automobile Dealers Association will continue to pursue legislative relief (H.R. 2743/ S. 1304) to protect state franchise laws and other relief for those GM dealers adversely affected by this process.”

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