ChryCo CEO Denies No Free Credit (Report Dot Com Baby)

In an email to the troops [obtained by The Detroit News], Chrysler CEO Bob Nardelli's denying The Wall Street Journal report that ChryCo's re-fi of $30b of short-term, car-loan-backed debt may not go down. If that happens– I mean, doesn't happen– Chrysler dealers will find themselves in that special place where they have no attractive deals to offer on their unattractive vehicles. Nardelli said pay no attention to that banker behind that curtain. "As is customary for many auto finance companies, this renewal process takes place every year. We will continue to offer competitive financing and lease options for our customers and dealers." A dealer worries. "We knew something was going on with Chrysler Financial, but we didn't know what," reveals Alan Helfman, owner of Rivers Oaks Chrysler Jeep in Houston. "It's a big-time concern, because there is a copious amount of deals that I can't get done today that last year I could make a phone call and they'd be willing to work with us." Perspective people! "If the demand for your products is there," says George Magliano, automotive analyst with Global Insight Inc. "You don't have to worry as much about offering a great deal." Which is exactly why Helfman and his fellow store owners are scared to death.

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  • Windswords Windswords on Jul 22, 2008

    gforce2002, Thanks for a great link. I didn't know this was in the discussion forums. Just the editorials and main website stories will make you shake your head in disbelief but this link about what happened from someone on the inside is even more enlightening. Hey TTAC'rs, you should all click on it and read it!

  • Gforce2002 Gforce2002 on Jul 22, 2008

    Indeed. Given that information, the question is not why are the Sebring/Avenger as bad as they are, but rather why are they as good as they are.

  • Capeplates Capeplates on Jul 23, 2008

    Chrysler, like a number of other US car manufacturers are doomed! They're going down bigtime!

  • Windswords Windswords on Jul 23, 2008

    capeplates, Thanks for enlightening the discussion here. We appreciate your input.