WASHINGTON, Dec. 12 /PRNewswire/ — The following is a statement by National Automobile Dealers Association Chairman Harold Wells on the Oldsmobile Phase Out: There are 2,801 Oldsmobile dealers in the U.S. — and their welfare is our top concern. It is imperative that GM treat all Oldsmobile dealers fairly and that they be properly compensated. It is equally important to take care of the Oldsmobile owner. In the past four years, more than 1.2 million Oldsmobiles have been purchased. At a minimum, Oldsmobile owners need assurances that all warranties will be honored, and necessary parts and service will continue to be available. This is a very sad day. Oldsmobile has been an integral part of America's rich automotive heritage. Its production spans more than 100 years, virtually the entire history of the U.S. automobile industry. We must remember that there are a whole lot of very good people — dealers, employees, their families, and customers alike — who have remained loyal to this GM brand for many, many years. A decision like this is crushing to them. GM needs to move quickly to take into account the millions of dollars that dealers have invested in facilities, equipment, personnel, and training. They deserve nothing less than fair compensation.