E-NEWSLETTER

General Motors announced last Friday that it intends to reinstate more than half of the dealers appealing the loss of their franchise agreements, a day after two U.S. Congressmen sent a strongly worded letter asking GM and Chrysler to stop awarding new franchises in areas where dealers are awaiting arbitration hearings.

Tags: Chrysler, General Motors

Congressmen Pete Hoekstra of Michigan and Steven LaTourette of Ohio have sent a strongly worded letter to General Motors Corp. Chairman Ed Whitacre and Chrysler LLC CEO Sergio Marchionne, asking the OEM heads to halt new franchises in markets where formerly franchised dealers are awaiting reinstatement hearings.

Tags: Chrysler, General Motors

Despite General Motors and Chrysler announcing comprehensive plans to resolve concerns by dealers who were cut or are winding down, the National Automobile Dealers Association (NADA) continued this week to pursue legislation to reverse dealer terminations.

Tags: Chrysler, dealer terminations, General Motors, NADA

According to a recent report by the National Taxpayers Union, American taxpayers have paid $12,200 for every General Motors vehicle sold through the beginning of 2011, and $7,600 for every Chrysler vehicle sold.

Tags: Chrysler, General Motors, GMAC Financial Services, Treasury Department

Chrysler Group officials made it clear last Wednesday that securing the financing needs of its dealers will be key to realizing its $500 million, five-year plan. GMAC responded the following day by saying that it’s quickly ramping up efforts to becoming the preferred financing source of Chrysler dealers and customers.

Tags: Chrysler, GMAC Financial Services

Chrysler Group LLC unveiled its five-year business plan on Nov. 4, and said it's working to introduce a test fleet of plug-in hybrid minivans and trucks in 2011 and possibly an all-electric vehicle in 2012.

Tags: Chrysler

U.S. Congresswoman Candice Miller (R-Mich.) and National Automobile Dealers Association (NADA) chairman John McEleney have undertaken separate campaigns to extend a program designed to provide floorplanning credit to Chrysler dealerships.

Tags: Chrysler, FLOORPLAN FINANCING, GMAC Financial Services, NADA

Chrysler Group LLC is offering credit union members preferred pricing on all 2009 Chrysler, Jeep, Dodge and Ram Truck vehicles and a select number of 2010 vehicles through the“ Invest in America” program.

Tags: Chrysler, credit unions

An insider confirmed on Wednesday reports that GMAC Financial Services Inc. is in discussions with the U.S. Treasury Department for a third-round of taxpayer-backed funding – one of two moves the auto finance company made this week to shore up its capital position ahead of an impending regulatory deadline.

Tags: Chrysler, FDIC, GMAC Financial Services, Treasury Department

Chrysler Financial, the former captive lender of Chrysler LLC, will liquidate and cease business in Dec. 31, 2011, according to a letter from the U.S. Treasury Department.

Tags: Chrysler, Chrysler Financial, GMAC Financial Services

Starting Thursday, Oct. 1, GMAC Financial Services will begin rewarding loyal General Motors and Chrysler dealers with cash, remarketing services and other perks.

Tags: Ally Bank, Chrysler, General Motors, GMAC Financial Services

Chrysler Group LLC is offering incentives through Sept. 30 on select 2009 and 2010 model year vehicles. The manufacturer also reported a five percent increase in August sales.

Tags: Chrysler, incentives

Chrysler Group LLC introduced “Double CA$H for Your Old Car,” a new incentive program that offers consumers up to $4,500 cash or 0 percent financing for 72 months through GMAC Financial Services.

Tags: Car Allowance Rebate System, Cash for Clunkers program, Chrysler, GMAC Financial Services

Chrysler Group LLC announced Sunday the appointment of additional members to its board of directors, completing the nine-member board that will provide oversight to the Chrysler Group.

Tags: Chrysler

Responding to reports that it suspended wholesale financing for some of the roughly 2,400 surviving Chrysler dealers, GMAC Financial Services said on Friday that it is “working aggressively” to support the Chrysler dealer body at large.

Tags: Chrysler, FDIC, GMAC Financial Services

This month's new-vehicle sales (including fleet sales) are expected to be 887,000 units, a 25.3 percent decrease from June 2008, but a 3.9 percent decrease from May 2009, according to Edmunds.com.

Tags: Chrysler, Edmunds.com, Ford, GM, Honda Motor Co., HYUNDAI, Nissan, Toyota

Chrysler LLC prevailed in a federal bankruptcy court decision last week, allowing the OEM to discontinue franchise agreements with 789 dealers across the U.S. and complete an alliance with Italian automaker Fiat SpA.

Tags: Chrysler, Fiat

Chrysler LLC launched last Tuesday incentives for buyers of new Dodge, Chrysler and Jeep vehicles through its new lender, GMAC Financial Services.

Tags: Chrysler, GMAC Financial Services, manufacturer incentives

On the heels of General Motor’s Chapter 11 bankruptcy filing on Monday, GMAC Financial Services issued a statement saying it is taking the appropriate steps to protect its interests during the troubled automaker’s restructuring.

Tags: Chrysler, Chrysler Financial, General Motors, GMAC Financial Services

The Chrysler National Dealer Council, comprised of 17 Chrysler, Jeep and Dodge dealers elected by the dealer organization to represent all dealers’ interests, sent a letter to customers last Tuesday stating support for the company’s organizational overhaul.

Tags: Chrysler, Fiat

Close to 90 percent of Chrysler LLC’s U.S. dealers are ready to conduct business through GMAC Financial Services, according to Chrysler Group vice chairman and president Jim Press.

Tags: Chrysler, GMAC Financial Services

GMAC Financial Services announced Thursday that it will receive $7.5 billion from the U.S. Department of the Treasury, as well as other key actions that will significantly improve the company's capital position and access to liquidity.

Tags: Chrysler, FDIC, Federal Reserve, GMAC Financial Services

To extend some relief to U.S. auto dealers impacted by Chrysler’s bankruptcy filing and falling sales, U.S. Senator Kay Bailey Hutchison (R-Texas) introduced an amendment that will give dealerships slated for closing on June 9 an extra 60 days to close down operations and sell remaining inventory.

Tags: Chrysler, NADA