More than 100 Chrysler U.S. dealerships face possible closure

About 100 Chrysler Group US dealerships are in danger of closing unless they enter new financing deals with GMAC Financial Services or another lender, according to people familiar with the process.

Chrysler spokeswoman Kathy Graham said however that Chrysler remains optimistic that all or almost all of these dealerships would find financing for vehicle inventories and other expenses by the end of November. Last June, Chrysler emerged from a government-funded bankruptcy in June with about 2,400 dealerships. In October, 2,366 dealerships were left. Graham said that this is about right for its expected 2010 sales. GMAC, which replaced Chrysler Financial as preferred lender to the dealerships in April, received about 1,500 applications from Chrysler dealerships. The rest had gone to get deals from other lenders.
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delan - 11/20/2009 10:39:06 PM

+2 Boost

** tumbleweed **

veyron1001 - 11/21/2009 11:08:03 AM

+1 Boost

and this is a bad thing because.......

r_driver04 - 11/24/2009 11:21:18 AM

+1 Boost

That's not news......that's sound of inevitability!