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Future Of Mass. Auto Dealers Rests On Detroit
Two U.S. automakers-- General Motors and Chrysler — are in a holding pattern, waiting for a government panel to decide their fate by the end of this month. The two have already received more than a combined $17 billion in bailout funds from the government. They're asking for an additional $21 billion. Without it, bankruptcy looms.
Nationally, auto sales dropped 18 percent last year from 2007. Here in Massachusetts, sales were down 12 percent last year and this year is expected to be even worse.
As you might expect, weak sales hit car dealers hard. In Massachusetts, new car dealers number just under 460, down by more than 70 in just the last two years. Cape Cod has been hit hard as six dealers folded there in that time.
This week we visited some General Motors dealers on the Cape to find out how business is going.
This program aired on March 19, 2009. The audio for this program is not available.