A deteriorating U.S. economy combined with an ongoing credit crunch is darkening the credit outlook for the auto finance market well into 2009, said Moody’s Investors Service in a report on Tuesday.
“The sector is clearly under severe stress,” said Curt Beaudouin, vice president and analyst at Moody’s. He noted increasing delinquencies and write-downs of uncollectable debt, higher loss severities due to slumping used-car prices, as well as shrinking new vehicle sales.
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Merger talks between two auto giants have reportedly reached an impasse and will be placed on temporary hold until after the U.S. presidential elections today.
Last week the Bush administration decided the government would not help finance a merger of GM and Chrysler. Both vehicle makers were seeking $10 billion-$15 billion in government to make the agreement happen.
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Chrysler recently kicked off their “Protection with Direction” promotion, where they will give you a free Garmin nuvi 255W GPS navigation unit - a $350 unit - for free.
Here’s how it works..
With the purchase of any Chrysler extended warranty with a base MSRP over $1,000 between October 16, 2008 to December 31, 2008 you will get the garmin unit tossed into the deal for no additional cost. Dont’ get nervous at that price just yet though!
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Chrysler LLC will stop producing its first two hybrid-electric vehicles slightly more than two months after they started arriving in at your local Dodge & Chrysler dealerships.
This summer, Chrysler introduced the Chrysler Aspen and Dodge Durango Hemi hybrid SUVs to great fanfare. Production began in August. But the two were doomed to a short lifespan from the beginning. They are made at Chrysler’s Newark, Delaware plant, originally scheduled to close at the end of 2009.
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Auburn Hills, Mich. — Chrysler LLC today announced that the Company will expand its support for the U.S. military by adding a $500 cash allowance to the retail purchase or lease of a new, eligible Chrysler, Jeep® or Dodge vehicle. A three-year service contract or Chrysler Extended Warranty also is included for all eligible military consumers.
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Auburn Hills, Mich., Sep 25, 2008 - The year was 1983. Ronald Reagan was President of the United States of America. Lech Walesa was the Nobel Peace Prize Laureate. The Internet was created, and the first mobile phones were introduced to the public. U.S. astronauts completed the first space shuttle spacewalk; Michael Jackson performed the “moonwalk.” The Baltimore Orioles won the World Series…and Chrysler hit a home run with the introduction of the first minivan.
The Chrysler Corporation (as it was known then) was first to market with the minivan in 1983. However, the development of the minivan began even earlier than that, in 1977, as a response to new customer needs identified in the marketplace.
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Chrysler Introduces Three Advanced Electric-drive Vehicle Prototypes
AUBURN HILLS, Mich. – Actions speak louder than words.
Chrysler LLC announced today that the Company and its ENVI organization have new production-intent, advanced electric-drive technology packaged in three different vehicles – one for each of its brands, Chrysler, Jeep® and Dodge.
Chrysler will select one electric-drive model to be produced in 2010 for consumers in North American markets, and European markets after 2010. Additionally, approximately one hundred Chrysler electric vehicles will be on the road in government, business, utility and Chrysler development fleets in 2009.
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