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General Motors has announced that it will reinstate 661 of the more than 1,100 dealers who filed for arbitration after their franchises were cancelled last year as part of the company’s bankruptcy plan, Bloomberg News reported.
GM offered franchise agreement letters to the dealers, North America President Mark Reuss said during a conference call, Bloomberg said. GM has about 5,500 dealers.
Reuss said GM is “eager” to restore its relationships with the dealers, adding that the arbitration process would only lead to “uncertainty in the market.”
GM accounted for 19.9 percent of U.S. sales of cars and light trucks last year, a drop from 22.3 percent in 2008, Bloomberg said, citing figures compiled by Autodata Corp.
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