Just 2 days after General Motors got its first installment of bailout, from the US Treasury Department, Chrysler CEO Bob Nardelli confirmed today that Chrysler group has received $4 Billion from government.  I think they should lay off the two stupid dumbasses Rick Wagoner, and Bob Nardelli as soon as possible and get Carlos Ghosn, and Alan Mulally lead the struggling companies.

AUBURN HILLS — Chrysler LLC said Sunday its financial unit had renewed lines of credit totaling $24 billion that will fund the automaker’s dealers and its financial services business.  Chrysler Financial initially sought $30 billion but reduced the amount “due to conditions in the credit markets and changes in the company’s retail strategy,” the company said in a news release.

continue reading "Chrysler unit gets $24B credit line"

A group of 10 U.S. Senators representing both the Republican and Democrat parties have proposed an $84 billion package that aims to drastically change the current automotive landscape of America.

Around $20 billion of the package would go to a project to “support the goal of transitioning 85 percent of America’s new motor vehicles to non-petroleum-based fuels within 20 years.”

continue reading "Bipartisan group proposes $84 billion automotive reform"

As the U.S. market makes a shift from leasing to retail purchasing, Chrysler has announced that in August it will repackage its incentives to make vehicle purchases more affordable. The new strategy includes 72-month finance deals on an expanded range of compact, mid-size and full-size vehicles. The program creates retail payments similar to 36-month lease payments, and lower than previously offered finance payments.

continue reading "Chrysler replaces leases with New affordable Purchase deals"

Chrysler’s ‘Let’s Refuel America $2.99 Gas Guarantee’ promotion didn’t seem to help much as the troubled American automaker reported (unadjusted) July U.S. sales of 98,109 units, which is a staggering 29 percent below the same period last year. From the few bright spots worth mentioning, the Chrysler Town & Country posted a 24% increase with 8,070 sales versus July 2007 sales of 6,513 units while the Dodge Avenger’s sales were up 4%.