GM files for bankruptcy, but what does it mean for GM owners? - KWWL - Eastern Iowa Breaking News, Weather, Closings

GM files for bankruptcy, but what does it mean for GM owners?

IOWA CITY (KWWL) - Industry experts say it marks the end of General Motor Company as we know it, with talk of restructuring on tap that will transform the auto giant into something leaner, meaner, and more successful.

But what about the people who depend on GM parts for jobs and transportation? We went to NAPA Auto Parts, where store manager Kurt Shover says getting those components may take a little longer for a period of time. However, he says business is actually good right now, as the need for parts is on the rise. In fact, his store has seen a 5% sales growth from last year.

"I think people are holding onto their cars longer and fixing them instead of buying new ones, because they're not sure what the auto market is going to be like," Shover told us Monday.

For owners of GM makes and models, he tells us the newer your vehicle, the longer it may take to get a part for it. At least, for a while. "There may be a lag in time where they may run out of some parts for the newer stuff, where a lot of the late modeled vehicles we still can get parts available for, and we still have a lot in stock."

After Chrysler went bankrupt, Shover saw some parts for those vehicles go on national backorder. But he says eventually, many of the patents for those components get released to after-market suppliers, who put them back into stores.

"We've had some stuff with the Chrysler vehicles; suppliers had some concerns and ran into some issues with that, but GM I think it may happen, where some parts just might not be available."

Shover says companies who manufacture parts have been hit because of the auto industry's problems, but he's not worried about any layoffs where he works.

Online Reporter - Brady Smith

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