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Chrysler dealers at the National Automobile Dealers Association (NADA) annual convention were more confident about the company’s future after a closed-door meeting with Chrysler executives. While the dealers know they face a product drought for most of this year as well as unfavorable public and analyst perceptions, many say they’ve been there before and 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 [...]
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. [...]