Losing ground in auto financing, GMAC to offer new financial incentives to dealershipsSeptember 24th, 2009 GMAC to offer new dealership incentivesNEW YORK — GMAC Financial Services, the former financing arm of General Motors Co., is making a new push to recapture its share in the auto financing business by offering incentives to its most loyal dealers. The government-subsidized lender starting Oct.
Chrysler to resume leasing in hopes of raising sales, but deals won't be as good as pastSeptember 16th, 2009 Chrysler to resume leasing after 1-year breakDETROIT — Chrysler Group LLC says it will return to leasing vehicles after a yearlong hiatus. The automaker says it will offer lease options on all 2010 Chrysler, Dodge and Jeep vehicles.
GM and Chrysler may become bankruptcy lenders to auto parts supplier VisteonJuly 16th, 2009 GM, Chrysler among possible lenders to VisteonDOVER, Del. — Fresh from bankruptcy reorganization themselves, General Motors and Chrysler Group LLC now may become bankruptcy lenders to auto parts supplier Visteon Corp.
Chrysler Financial repays $1.5 billion in TARP loansJuly 14th, 2009 Chrysler Financial pays off $1.5B in TARP loansFARMINGTON HILLS, Mich. — Chrysler Financial, the former financing arm of automaker Chrysler LLC, said Tuesday that it has repaid in full its $1.5 billion in government loans.
Chrysler Financial to eliminate 9 percent of work force, closes service centerJuly 1st, 2009 Chrysler Financial to cut 9 percent of work forceDETROIT — Chrysler's former financial arm said Tuesday that it will reduce its work force by about 9 percent, or more than 300 employees, as it restructures operations after losing its preferred lender status with the automaker. GMAC Financial Services is now Chrysler's leading lender for financing Chrysler vehicle purchases and dealer inventories, a move prompted by President Barack Obama's auto task force.
Chrysler Financial cuts 9 percent of workforce, closes service centerJune 30th, 2009 Chrysler Financial to cut 9 percent of workforceDETROIT — Chrysler's former financial arm says it will reduce its workforce by 9 percent as it restructures and closes a customer service center in Overland Park, Kansas. Chrysler Financial, a company separate from Chrysler Group, says the moves come as it no longer serves as the automaker's preferred lender for financing Chrysler vehicle purchases and dealer inventories.
Former Chrysler dealer to take fight for franchises to US District CourtJune 22nd, 2009 Chrysler dealer appeals franchise terminationsNEW YORK — A pair of former Chrysler LLC dealerships are appealing a bankruptcy judge's order terminating their franchises and those of more than 700 others. Tarbox Motors and Tarbox Chrysler Jeep filed a notice of appeal on Friday, saying that they were appealing the decision to U.S.
Chrysler to ask bankruptcy judge to terminate dealer franchises; Ind. funds get appeal hearingJune 3rd, 2009 Judge to rule on termination of franchisesNEW YORK — A bankruptcy judge is getting ready to decide whether Chrysler can terminate the franchise agreements of 789 of its dealers. U.S. Judge Arthur Gonzalez is expected to hear testimony Wednesday from Chrysler executives and dealers.
Senate committee to hear from GM, Chrysler executives on dealer closingsJune 1st, 2009 GM, Chrysler executives to face Congress WednesdayWASHINGTON — Top executives from General Motors and Chrysler will appear before a Senate committee Wednesday to address concerns about hundreds of dealership closings as the two automakers work through government-led bankruptcies. GM CEO Fritz Henderson and Chrysler President Jim Press will appear before the Senate Commerce Committee chaired by Democratic Sen.
GM makes huge dealer cuts, follows move by ChryslerMay 15th, 2009 WASHINGTON - General Motors Corp, the US auto giant nearing bankruptcy, Friday announced massive cuts in its dealership network as part of a drastic effort to cut costs and survive the global recession. GM, the largest US carmaker, has informed 1,100 of its nearly 6,000 dealers that their contracts would not be renewed.
Judge approves agreement to make GMAC preferred lender for Chrysler dealers and customersMay 12th, 2009 Judge OKs deal to make GMAC top Chrysler lenderNEW YORK — A bankruptcy judge says GMAC can become Chrysler's preferred lender. Pending the completion of certain documentation, U.S.
Judge to consider motion for GMAC to take over Chrysler vehicle loansMay 11th, 2009 Chrysler to ask judge to approve GMAC agreementNEW YORK — Chrysler LLC will ask a bankruptcy judge on Tuesday to allow General Motors Corp's lending arm to take over making auto loans for Chrysler's customers and dealers. Chrysler two weeks ago said its lending arm, Chrysler Financial, would no longer provide vehicle financing.
Chrysler's president and vice chairman LaSorda leaves Chrysler effective immediatelyMay 2nd, 2009 Chrysler president LaSorda to retire immediatelyAUBURN HILLS, Mich. — Chrysler says its president and vice chairman, Tom LaSorda, is leaving the automaker immediately.
Chrysler plans to temporarily shutdown most plants until Fiat deal closesApril 30th, 2009 Chrysler to idle plants until Fiat deal doneNEW YORK — Chrysler says it will temporarily stop most of its vehicle production until its deal with Italy's Fiat is complete. The shutdown is effective Monday and could last up to two months.
Canadian, Ontario governments provide financing, get 2 pct stake in retooled Chrysler CanadaApril 30th, 2009 Canadian governments to lend to Chrysler CanadaTORONTO — The Canadian and Ontario governments will jointly hold a 2 percent equity stake in a restructured Chrysler Canada and will lend about 3 billion Canadian dollars (US$2.42 billion) to help the beleaguered company while it is in bankruptcy proceedings. Prime Minister Stephen Harper's office said Thursday that the loan will cover debtor-in-possession financing and exit financing needed when the automaker emerges from court protection.
Loading ...