General Motors to close dealerships

More than 1,000 dealerships to shut down as US auto giant struggles to survive.

    GM is struggling to survive amid a global economic
    and financial crisis [EPA]

    Mark LaNeve, GM vice president, said many of the dealers notified this week were selling 35 or fewer vehicles per year.

    Barack Obama, the US president, has given GM until June 1 to restructure its debt, agree concessions with its workers union and prove it can survive as a viable business.

    GM announced in April that it was to slash a further 21,000 jobs and close plants and dealerships, while Rick Wagoner, the company's former chief executive officer, was ousted by the Obama administration in March.

    Chrysler, another struggling US auto-giant that has already gone into the bankrupty process, said on Thursday it plans to close 789 of its showrooms.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Visualising every Saudi coalition air raid on Yemen

    Visualising every Saudi coalition air raid on Yemen

    Since March 2015, Saudi Arabia and a coalition of Arab states have launched more than 19,278 air raids across Yemen.

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Many Pentecostal churches in the Niger Delta offer to deliver people from witchcraft and possession - albeit for a fee.

    Why did Bush go to war in Iraq?

    Why did Bush go to war in Iraq?

    No, it wasn't because of WMDs, democracy or Iraqi oil. The real reason is much more sinister than that.