New Jersey Losing 62 GM Dealerships, 3,900 Jobs

The General Motors bankruptcy and a nationwide culling of auto dealerships will put out of business 62 dealers in New Jersey alone, eliminating 3,900 jobs.

GM is cancelling franchise agreements with 2,600 dealers nationwide.

In addition, Chrysler is closing 30 Jersey dealerships, cutting 2,000 jobs.

General Motors is the world’s second-largest automaker after Toyota, ranked by 2008 global unit sales. GM was the global sales leader for 77 consecutive calendar years from 1931 to 2007. It manufactures cars and trucks in 34 countries. GM employs 244,500 people around the world, and sells and services vehicles in some 140 countries