MADISON (WKOW) -- Longtime Madison automobile dealer Thorstad Chevrolet will be one of the approximately 1,100 GM dealers in the country to have its franchise agreement expire. The dealership is located on Park Street in Madison.
In a statement to 27 News, Tom Thorstad said:
"We did receive a letter from GM informing us of their intent to discontinue our franchise no later than Oct 31, 2010. We have appealed this, and are considering our options at this time. We are open for business, and still provide the best, most honest service in the business. Whatever the eventual outcome for us, we still feel the cars we sold yesterday are the same great cars we will sell tomorrow. "
General Motors filed for Chapter 11 bankruptcy protection earlier this week. On May 15, the automaker sent notices to more than one thousand of its dealers that it would let such franchise agreements expire.
On May 14, Chrysler announced a similar fate to about 700 of its dealers. That move is leading to the proposed consolidation of some Russ Darrow and Don Miller dealerships in Madison.