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Olds sales hold steady, but dealers are getting jittery.

Publication: Automotive News
Publication Date: 02-JUL-01 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Olds sales hold steady, but dealers are getting jittery.(Oldsmobile Div.)(Brief Article)(Statistical Data Included)

Article Excerpt
Oldsmobile continues to report respectable sales, but General Motors is reducing sales and advertising support.

Division spokesman Gus Buenz said Oldsmobile expects June retail sales to equal those of June 2000, when the GM division sold 30,534 vehicles, including fleet.

``We're having a hell of a month, I want to tell you,'' Buenz said.

But the good times will end. One potential problem: A deadline requiring dealers to close by Sept. 30 or to repay dealer assistance when they do close. One dealer says staying in business beyond Sept. 30 could cost dealers $50,000 per $1 million of inventory.

And dealers are irked that values of off-lease Oldsmobile models are running 4 percent to 5 percent...

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