General Motors (NYSE: GM) Announces Closing of 1,100 Car Dealerships Nationwide

General Motors (NYSE: GM) announced Friday that it will close 1,100 car dealerships in the United States, according to reports.

GM notified these dealerships that they would not be renewed past October 2010. The 1,100 dealerships represent approximately 18% of all of its U.S. dealerships. This news comes just one day after Chrysler announced that it will close 800 of its dealerships as part of its restructuring plan.

General Motors said it selected the dealerships that were not meeting objectives set by the company, such as minimum sales volumes and dealer profitability, according to the Detroit Free-Press. GM hopes to reduce its U.S. dealer count by 42% to 3,605 by the end of next year.

GM is barely staying afloat due to $15.4 billion in federal government loans and must restructure its debt by June 1 or face bankruptcy. GM CEO Fritz Henderson has said that bankruptcy was more probable than not.

The complete list of dealerships GM is closing has not yet been released, but Huffington Post listed a few that they were aware of. To see that dealer list, please look below:

• Tom Sparks Buick in Dekalb, Illinois.
• Reichert Automotive Group, which has locations in Crystal Lake and Woodstock, Illinois.
• Two dealerships owned by the Asbury Automotive Group in Kissimmee, Florida.
• Fox Pontiac Buick GMC in Alpine Township, Michigan.
• Chuck Clancy Chevrolet dealership in Cartersville, Georgia.
• Nourse Interstate Automall in Richburg, South Carolina.
• Matthews Chevy of Brilliant, Ohio; and Glen Dale Motors and Bell Chevrolet of Sistersville, West Virginia
• Merle Snider Motors in Winfield, Kansas
• Adams Chevrolet in Belton, Missouri.
• Eisenhower Motor Sales in Pemberville, Ohio.
• Lakeland Oldsmobile-Pontiac-GMC of Oconomowoc, Wisconsin, and John Quaden Dodge in Okauchee, Wisconsin.
• Stokes Hodges GM in Thomson, Georgia.
• Fox Motors in Charlevoix, Michigan.
• Chrysler Jeep Dodge in Burlingame, California.
• Roseland Auto Sales in Chicago.
• Bob Hall GMC in Yakima, Washington
• AutoServ of Laconia, in Belmont, New Hampshire.
• At least 18 dealerships in Minnesota.
• Johnson Motor Company of South Carolina and Henna Chevrolet of Aiken, South Carolina.
• Mendenhall-Roy Chevrolet in Grabill, Indiana and Gene Reeg Motor Sales in Columbia City, Indiana.
• J.L. Freed and Sons of Lansdale, Pennsylvania.

General Motors is the second-largest automaker in the world behind Toyota and runs the following automotive brands: Buick, Cadillac, Chevrolet, GMC, Daewoo, Hummer, Pontiac, Saab, and Saturn.

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