96 percent of GM U.S. dealers signed up for incentive program

Article by Christian A., on August 7, 2011

General Motors divulged that of its total number of dealerships in the U.S., about 96% are enrolled in a program that provides financial rewards to those who accomplish facility renovations, standing for 99% of GM’s retail volume.

GM forecasts that 460 dealerships will complete renovations by the end of 2011 and that over 4,000 will have theirs done by the end of 2014, according to Don Johnson, GM vice president in charge of U.S. sales operations, who spoke during an online presentation to analysts and media.

GM CEO Dan Akerson also reiterated the company’s forecast for total-industry light-vehicle sales of a minimum of 13 million units this year.

But then, Akerson admits that the company is a “little unsure” of these figures due to the turmoil and uncertainty in the business. He said that when the market recovers, GM will be able to “really leverage” it farther than what has been so far since its IPO.

As part of the largest dealer facilities upgrade program in GM’s history, quarterly bonuses will be given by GM's Essential Brand Elements program to dealers who renovate their stores. In fact, payments for bigger stores can go as high as several hundred thousand dollars a month.

Nevertheless, several dealers believe that the industry’s recovery isn’t strong enough for them to pour money onto the upgrades for their stores. A few smaller dealers complained that it’s hard for them to get bank financing to fund the renovations.

If you liked the article, share on:

Topics: gm, dealer, incentives

Comments

Recommended

We’re willing to bet that the Bentley Bentayga is not the first thing that comes to mind for most people who are into off-roading and outdoor activities. It just doesn’t...
by - November 23, 2017
The other day, it was confirmed that Volvo will finally bring the XC40 to US soil, where it will first make an appearance at the 2017 Los Angeles Auto Show....
by - November 23, 2017
There is no question that the new BMW M5 (F90) high performance sports sedan is more powerful, faster and more enticing than the previous model. But for interested customers in...
by - November 23, 2017
Following the Tesla Roadster’s electrifying revelation on Thursday, Musk’s highly ambitious goals have skyrocketed when he tweeted about his future plans for the new sports car. Well, kind of. The...
by - November 23, 2017
Earlier in November at the 2017 SEMA Show in Vegas is when Hennessey unwrapped the Venom F5 to all of us. But it was actually first introduced as a concept...
by - November 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries