GREGG COUNTY, TX (KLTV) - Lively Cadillac GMC automotive dealership in Longview says, General Motors decision to file chapter 11 bankruptcy will hopefully restructure the company.
"It took us a hundred years to get in this mess," said Lively Sales Manager, John Ray. "We're not going to get out of it in a week, but my hope for the future is that we'll sale a lot of cars, trucks, and continue to satisfy the people of East Texas, just like we've done for the last 44 years."
Ray says owners of the nation's largest automaker cars should see little change, as a result of the bankruptcy since warranties will still be honored.
"It just means they we began the rebuilding process, as far as the customers concern, they won't even realize it," said Ray. "Warranties are still backed up by the federal government."
GM will shed its Pontiac, Saturn, Hummer and Saab brands and cut loose more than 2,000 of its 6,000 U.S. dealerships by next year. That could result in more than 100,000 additional job losses if those dealerships are forced to close.
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