Tuesday, 09 June 2009 11:06

GM reaches agreement with dealers through NADA

General Motors Corp. reached a deal with the National Automobile Dealers Association on franchise terms for the more than 3,500 dealers it plans to keep after it exits bankruptcy, GM and NADA said June 8.

John McEleney, chairman of NADA, complained last week in Senate testimony of "onerous one-sided" agreements that will leave dealers with few legal rights. They must sign by June 12 or GM can cancel their agreements.

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