CEO Fritz Henderson says new GM needs to innovate
16 July 2009

GM is planning to sell its cars on eBay and has opened talks with the online auction site into the scheme’s feasibility.

Customers will be able to buy cars for a set price or take part in an actual auction, according to GM CEO Fritz Henderson.

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“We'll be testing this and other ideas with our dealers over the next few weeks, and hope to expand and build upon them in the coming months,” said Henderson.

He said it was the “beginning of a new era” for its four core key brands – Chevrolet, Cadillac, Buick and GMC – and new GM would need to be innovative in the way it sells cars.

GM dealers will be hard hit by the eBay scheme. The company plans to cut the number of US dealerships from today's 6000 to 3600 by the end of next year.

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