A lot of excitement coming from General Motors today after the automaker announces it will reinstate hundreds of dealerships set to lose their licenses later this year.
There's only a few months left before Wolf Chevrolet won't be allowed to sell new cars like this 2010 Chevy because it's losing its franchise with General Motors, but now Wolf Chevrolet may be one of 661 dealers chosen to have its license reinstated.
Wolf Chevrolet Owner John Wolf describes this situation as an emotional rollercoaster. He's anxiously waiting to find out if his dealership will be one of 661 chosen to have its license reinstated.
In May General Motors told Wolf Chevrolet it would lose its franchise... as part of the automaker's restructuring plan. The dealership is one of 2,000 expected to turn into used car dealers in October. Eleven hundred of those, including Wolf Chevrolet are arbitrating dealers fighting to get their licenses reinstated. By monday they're expected to get a phone call letting them know whether they can keep selling new cars.
Dealers will start getting phone calls from GM on Monday and then letters of intent go out on Wednesday. The dealer must sign that within ten days and they have 60 days to meet criteria required to be reinstated. That new agreement goes into effect November.
Tom Sparks in Dekalb is another Stateline general motors dealer slated to lose its license in October. We spoke to one of its salesmen who tells us they too haven't received a letter or a phone call from GM.