what if GM goes bankrupt???
Apr 19, 2009 | 09:39 AM
#1
what if GM goes bankrupt???
i see theres talk here and there about GM going bankrupt, eventhough i dont think it will happen, but if it does, what would that mean for the dealerships? does that mean they all close? and if so, where would we get parts from that we can only get from the dealership?
Apr 19, 2009 | 04:51 PM
#6
If GM files for bankruptcy it will not mean that they are going out of business. They would most likely file for Chapter 11 which will allow for reorganization. They will then be able to make changes like disposing union contracts that cost the company too much, and other things to rid negative productivity.
The dealers are essentially independent businesses. They most likely will be affected, many of them already have been by a large decline in sales. However the dealerships should not go out of business. Warranties will remain honored, A company that wants to survive would never think of not covering warranty claims. They would go down the drain overnight if they pulled a stunt like that.
All repair parts will remain available as well. As we all know these parts are made by companies outside of GM. Just remember, if there is a demand there will be a manufacturer.
The dealers are essentially independent businesses. They most likely will be affected, many of them already have been by a large decline in sales. However the dealerships should not go out of business. Warranties will remain honored, A company that wants to survive would never think of not covering warranty claims. They would go down the drain overnight if they pulled a stunt like that.
All repair parts will remain available as well. As we all know these parts are made by companies outside of GM. Just remember, if there is a demand there will be a manufacturer.
Apr 19, 2009 | 07:44 PM
#7
they will be able to restructure like said and they will be able to collect all of their recievables (everything that people owe them) but wont have to pay off anyone that they owe to except the bank loans they have. So the companies they have do work for them are just plain F*****! all of the tool shops (like where I work) that have done work for GM that is not paid up will lose that money for good. Thankfully my shop doesnt do work directly for GM.
Although we are in the middle of the Chevy Volt battery stuff
Although we are in the middle of the Chevy Volt battery stuff
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Apr 19, 2009 | 08:50 PM
#9
If GM files for bankruptcy it will not mean that they are going out of business. They would most likely file for Chapter 11 which will allow for reorganization. They will then be able to make changes like disposing union contracts that cost the company too much, and other things to rid negative productivity.
The dealers are essentially independent businesses. They most likely will be affected, many of them already have been by a large decline in sales. However the dealerships should not go out of business. Warranties will remain honored, A company that wants to survive would never think of not covering warranty claims. They would go down the drain overnight if they pulled a stunt like that.
All repair parts will remain available as well. As we all know these parts are made by companies outside of GM. Just remember, if there is a demand there will be a manufacturer.
The dealers are essentially independent businesses. They most likely will be affected, many of them already have been by a large decline in sales. However the dealerships should not go out of business. Warranties will remain honored, A company that wants to survive would never think of not covering warranty claims. They would go down the drain overnight if they pulled a stunt like that.
All repair parts will remain available as well. As we all know these parts are made by companies outside of GM. Just remember, if there is a demand there will be a manufacturer.
I agree almost 95%...... I work at a dealer, and I have seen lately where we are having alot of common parts being on national back order. Parts are getting alot harder to get.
Apr 20, 2009 | 08:50 AM
#10
TECH Fanatic
Joined: Jun 2008
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From: houston, tx
i noticed something weird today at a local dealership.. the chevy part of their big sign was covered in a new big *** gm logo! whats that mean.? you know it would usually say "allen samuals chevorlet" with a big bowtie. now its a huge cover that says GM.. thats it.. are all the cars gonna be sold at one dealership now all GM? or maybe the sign got damaged in this last storm we had on sat. doubt it but not sure.