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 [...]
A group of 38 non-profit groups, including the NAACP, Consumer Federation of America and the Center for Responsible Lending, are asking the House Financial Services Committee to make sure automobile financing is included in the purview of a new Consumer Financial Products Agency. The consortium accuses dealers of predatory lending practices and want the federal [...]
Facing possible legislation restoring the franchises of 789 dealers cut by Chrysler during its brief stay in bankruptcy, the automaker has agreed to stop offering the terminated dealers’ former territories to new dealers. The company says the action will continue throughout the negotiations it is having with dealer representatives and the National Automobile Dealers Association.
Chrysler’s [...]
The National Automobile Dealers Association and a group of dealers, called the Committee to Restore Dealer Rights, whose franchises were terminated by Chrysler and General Motors have reached an agreement on recommended reinstatement procedures.
The compromise agreement calls for the automakers to disclose the actual criteria used to determine which dealers were to be terminated. If [...]
The National Automobile Dealers Association has asked the Department of Transportation to suspend the Car Allowance Rebate Program immediately. The dealer group says data from an informal survey of its members indicates there are already enough claims in process to exhaust the $3 billion fund and it does not want dealers to be left with [...]
Rumors to the contrary, the government’s Cash Allowance Rebate System (CARS) is still up and running even though it is perilously close to running out of money after just six days in operation.
A White House spokesperson said, “It is not suspended. We continue to assess the program and its budget.”
A National Automobile Dealers Association survey [...]
America’s newest automakers, Chrysler Group and General Motors Company, are busy on Capitol Hill these days, hoping to derail legislation that would “un-terminate” dealers the companies shed while in bankruptcy.
John Bozella, a spokesman for Chrysler Group, said the company is open to a “non-legislative solution” but added there weren’t any specific proposals at this time.
Bills [...]
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