General Motors is offering some dealerships $100,000 to $1 million to wind down their businesses over the next 17 months, according to three sources familiar with the proposals.
For Pontiac-only franchises, GM is offering only $10,000 to $200,000, according to two sources.
The offers are contained in so-called wind-down agreements that the bankrupt automaker has sent to dealerships that will not have their franchises renewed when they expire on Oct. 31, 2010.
Each dealership will be offered an amount based on its inventory, overall cost structure and regional rank, said GM sales chief Mark LaNeve in a Monday interview, without providing figures.
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