DETROIT - General Motors Co. said today it plans to reinstate 661 of the 1,160 rejected dealerships that applied for arbitration to get their franchises back. In a statement, the automaker said the action would allow the affected dealers “to conduct normal dealership operations as soon as they comply” with terms of a “letter of intent” being sent to them in the next week, Automotive News reported after GM's conference call with journalists. “We are eager to restore relationships with our dealers, and get back to doing what we do best -- selling cars and taking care of customers,” GM North America President Mark Reuss said in a statement. “The arbitration process creates uncertainty in the market. We believe issuing these Letters of Intent is good for our customers, our dealers and GM.” The restored stores will regain all of their dealership privileges immediately, including the ability to order new product.