Posted in Automotive, Chrysler, Financing, Ford, GM on Aug 6th, 2008
Experts say that the Big Three might be forced to file for bankruptcy, while the automakers adamantly argue they have enough money and bankruptcy is not an option. So which is it? Everyone knows that GM, Ford and Chrysler are losing money and sales are down big time. All three companies have recently cut staff […]
Posted in Automotive, car buying incentives, Chrysler, Financing on Aug 4th, 2008
As Chrysler was ending its lease program last Thursday, the company announced on Friday new financing deals to try and keep customers who want to lease. Chrysler will allow customers to purchase cars under finance deals with payments similar to leases, reports CNNMoney.com. “As part of our annual August model-year clearance, we are leveraging the […]
Posted in Automotive, Chrysler, Financing, Leasing on Aug 1st, 2008
Chrysler announced a week ago that its finance arm, Chrysler Financial, would get out of the leasing business as of Friday, August 1. In one week, Chrysler has seen a flood of buyers trying to lease a vehicle before the company stops offering the option, reports the Wall Street Journal. “It has been a frenzy,” […]
Posted in Automotive, Chrysler, Financing on Jul 30th, 2008
Fitch Ratings cut Chrysler LLC’s credit rating further on Tuesday, saying restricted access to financing for its vehicles will result in lower retail volumes, reports CNNMoney.com. The credit ratings agency lowered Chrysler’s issuer default rating two notches to “CCC” from “B-“. The agency said Chrysler’s restricted access to economic retail financing for its vehicles is […]
Posted in Automotive, Chrysler, Financing, Leasing on Jul 25th, 2008
Chrysler LLC has started telling dealers it will no longer offer auto leases through its lending arm, Chrysler Financial, reports the Wall Street Journal. Chrysler and other auto companies with financing units are taking on a lot of losses from leases, due to low resale values of trucks and SUVs. This will make it harder […]
Posted in Automotive, Chrysler on Jul 23rd, 2008
Chrysler announced today it will cut 1,000 salaried jobs worldwide by Sept. 30. The announcement came in a letter to employees. Chrysler spokesman David Elshoff said the company hopes most of the 1,000 cuts will be through early retirements, attrition and voluntary separation programs. If that doesn’t bring Chrysler to the 1,000 mark, they will […]
Posted in Automotive, Chrysler, Financing, Jeep, SUV on Jul 22nd, 2008
The Jeep Patriot is the least expensive SUV to own, says Edmunds.com. The company based their results on projected model-specific average vehicle ownership costs, consisting of depreciation, financing, taxes, fees, insurance premiums, fuel costs, maintenance and repairs. The data is based on a five-year period of ownership. “Even though gas prices are high, some consumers […]
Posted in Auto loans, Automotive, Chrysler, Financing on Jul 22nd, 2008
The Wall Street Journal recently reported that Chrysler Financial’s bankers are scrambling to avoid higher borrowing costs when the unit rolls over about $30 billion of short-term, car-loan-backed debt next month, reports the Detroit News. Chrysler CEO Bob Nardelli said that isn’t so. Chrysler’s financing arm is not in danger of losing the ability to […]
Posted in Automotive, Chrysler, Dodge, Financing on Jul 18th, 2008
Chrysler’s Dodge Avenger and Chrysler Sebring sedans are losing in sales to their competitors. The Chevrolet Malibu, Ford Fusion and Honda Accord all had sales increase 10 percent or more this year, while the Sebring’s sales have dropped 30 percent. The Avenger gained only two percent in sales. In response to these sluggish sales figures, […]
Posted in Automotive, Chrysler, Dodge, Recalls, Safety on Jul 18th, 2008
The federal government has recently announced that 5,509 2008 Dodge Chargers and Magnums, along with some 2008 Chrysler 300 vehicles, are being recalled for a problem that was first spotted in March on a 2009 Dodge Challenger pilot vehicle. The vehicle was undergoing pre-launch evaluation at Chrysler’s Chelsea Proving Grounds. The problem seems to be […]
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