Chrysler purged a massive number of its North American showrooms earlier this year as part of a company-wide restructuring effort, and now up to 100 additional dealers might be forced to close their doors if they can’t reach financing deals with GMAC Financial Services.
Chrysler is down to around 2,360 dealerships, about 1,500 of which sought showroom and floorplan financing from GMAC when the company took over from Chrysler Financial as the automaker’s official lender. The rest of the surviving dealerships worked out their financing with other parties.
Yet more than 80 of the dealers have since found their applications rejected by GMAC. According to reports, about 60 more dealers are still under consideration and scrutiny by GMAC.
More than 10 percent of the rejected dealers have been able to find outside financing, according to Chrysler spokeswoman Kathy Graham.
“We are optimistic that none of them are going to have to close,” Graham told reporters from Reuters.
11/20, 10:15 AM
posted by:
johnnycanuck
Unfortunately I think a lot of Chrysler dealers are struggling with the simple fact that they sell Chryslers as much as anything.
11/20, 10:25 AM
posted by:
leftwingagenda
i’m only commenting because i like wranglers!
11/20, 10:59 AM
posted by:
Ashes to Ashes_Dust to Dust
Easy to love the Wrangler, it has real history. Hard to image someone will not buy the Jeep brand when Chrysler tanks so Jeep will probably be safe in the long run.
11/20, 11:24 AM
posted by:
elmdodge
SEEMS LIKE CHRYSLER IS NOW THE SOON TO BE PURGED
11/20, 12:11 PM
posted by:
Borat
Lefty at your age I was more into women
. But it is a free country to each its own.
11/20, 12:52 PM
posted by:
RaineMan
But women complain when you ride them hard and put them up wet… Wrangler’s don’t.
11/20, 1:01 PM
posted by:
Borat
Sounds like an enormous schlong suffering from premature ejaculation. Go slow and half way.
11/20, 1:55 PM
posted by:
TomF
Why isn’t Fiat doing anything to help? They did this deal to get access to the dealer body, not Chrysler’s horrible lineup of crap cars. If the dealer body withers the value of the deal drops.