Auto Industry, Car Dealership | featured news

The clock is ticking for Ray O'Bryhim: he has less than a week to sell his last 40 cars.

AP - Top executives from General Motors and Chrysler face tough questions from lawmakers about sweeping plans to close hundreds of car dealerships as the auto companies undergo government-led bankruptcies.

Some auto dealers that Chrysler LLC plans to close are beginning a challenge to the automaker's plans to quickly sell itself in bankruptcy.

General Motors Corp is expected to slash up to 1,200 dealers as it struggles to dramatically pare down its operations and eliminate billions of dollars of costs ahead of an anticipated bankruptcy filing by the end of this month.

The carmaker, which filed for bankruptcy protection two weeks ago, sent letters to 789 of its 3,200 American dealers revoking their franchises.