Chrysler Group may have to cut another 145 dealers unless they can find a new source of financing. That’s because the dealers have been unable to qualify for financing from GMAC, Chrysler’s primary financing source.
The dealers have been caught in the in the transition from Chrysler Financial to GMAC. They have existing mortgages and floorplan [...]
The Center for Auto Safety, a nonprofit group founded by Ralph Nader, is calling for the National Highway Traffic Safety Administration (NHTSA) to launch an official investigation of the 1993-2004 Jeep Grand Cherokee fuel tank.
The consumer group charges the Grand Cherokee’s fuel tank extends below the rear bumper and doesn’t have adequate protection in the [...]
Chrysler’s international management includes (l. to r.): CEO Sergio Marchionne, who holds dual Italian and Canadian citizenship, Parisian Olivier Francois, CEO of Chrysler Brand, and Italian Pietro Gorlier, CEO of Mopar brand. Photos courtesy of Chrysler Group LLC.
This is the week for which Chrysler fans and company watchers have been waiting. Tomorrow, Chrysler reports October [...]
Chrysler Group continues to trim the ranks of hourly employees. The automaker confirmed Friday that buyout and early retirement offers went out to 23,000 workers represented by the United Auto Workers union. The offers include cash, vehicle vouchers and, depending on tenure and location, at least some pension and retirement health benefits. Special offers are [...]
The National Automobile Dealers Association says as many as 40 Chrysler dealerships may be threatened with foreclosure because of the ongoing dispute between GMAC and Chrysler financial.
“The parties have taken inconsistent positions and dealers are stuck in the middle,” said Forrest McConnell, an official with NADA. The dealer group says the affected dealerships are viable [...]
Top executives at Chrysler Group will soon see a major cut in their paychecks. As soon as today, the U.S. Treasury plans to announce new limitations on executive pay packages at companies that received the most government assistance under the Troubled Asset Relief Program (TARP). In addition to Chrysler, affected companies include General Motors, American [...]
Members of the International Brotherhood of Teamsters staged demonstrations at seventy Chrysler dealerships across the United States yesterday. Distributing leaflets reading “Chrysler Greed Destroys Michigan Families,” the union members were protesting Chrysler’s decision to give some of its new vehicle transportation business to non-union companies, a change that could cost an estimated 1,700 Teamsters their [...]
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