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revump
Las Vegas
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Joined: 07/02/2005
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Isn't GMAC going to provide financing for Chrysler now?
Bob
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hone eagle
essex ontario canada
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Joined: 11/18/2004
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revump wrote:Isn't GMAC going to provide financing for Chrysler now?
Cerebus (sp) owns Chyrsler and Cerebus owns GMAC
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hone eagle
essex ontario canada
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In fact a local GM dealer claims he was forced out of business when GMAC(cerebus) raised his floor plan interest rate to 17%.That was the last straw .toast
I believe he was hinting at a conflict of interest.
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PopBeavers
San Jose, CA
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If the consuming public (us) buys cars less often in the future, then I do not see how the current quantity of dealers could survive.
If the number of cars purchased per year cuts in half, then each dealer should expect to sell half as many cars as they did before. If half of the dealers close, then the remaining dealers will see the same volume that they did before.
I used to have 4 Chevy dealers within 20 miles of my house. Now there is one. There are three auto rows within 20 miles of my house. Each auto row has all the different brands except the exotics. This seems to be a poor business model these days. We don't need that many dealers.
I shop online to determine what I want. After choosing the vehicle and options, then I contact dealers looking for a price. For me, they only compete on price. None of them compete on service. I say that because none of them can answer my questions. Try asking a salesman about turning radius or towing capacity and see if you can get an honest accurate answer. If they were in the service business, they would be able to answer any question, or at least look up the answer for you.
When I want service, I go to my local independent repair shop. There is not a single dealer near me that will come close to matching him for quality, price, repair time or warranty.
Wayne in San Jose
TV1:2002 Chevy 1500HD 4wd Crew Cab,Valley Odyssey brake ctlr,McKesh mirrors
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RetiredbutWorking
Central Texas
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Joined: 02/10/2006
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It seems to me that the market is saturated with auto dealers. The country I live in has around 70,000 residents and three 'towns'. Those three towns have 5 new car dealerships and countless independent used car lots. Our market is saturated. If I were to drive one hour from home, I could be on one of 5 different 'motor miles' in 5 neighboring counties. Our entire region is saturated. It seems to be an unsustainable business model in a down economy.
RBW
USAF, Retired
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Fast Mopar
Houston, TX
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Joined: 05/03/2005
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So when it's all said and done, there will be fewer dealers, and the dealers that are still around will probably be the large ones. This is sad because many will lose their jobs. But, it is also sad because I have ALWAYS had better satisfaction (sales, service, parts) from the smaller dealers. The big mega dealers are generally staffed by salespeople who have absolutely no clue about anything. Sometimes the service people are good (sometimes they are not). A large high volume store is not necessarily a good store. I have found buying a car from a large mega dealer is like buying a computer from Best Buy - you need to know the specifics before you walk in the door because nobody in the store will know anything.
Edit - looks like Chrysler is going to cut 789 dealers.
link
* This post was
edited 05/14/09 08:57am by Fast Mopar *
2004 Ford Freestar 4.2 liter
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Gale Hawkins
Murray, KY
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Fast Mopar wrote:So when it's all said and done, there will be fewer dealers, and the dealers that are still around will probably be the large ones. This is sad because many will lose their jobs. But, it is also sad because I have ALWAYS had better satisfaction (sales, service, parts) from the smaller dealers. The big mega dealers are generally staffed by salespeople who have absolutely no clue about anything. Sometimes the service people are good (sometimes they are not). A large high volume store is not necessarily a good store. I have found buying a car from a large mega dealer is like buying a computer from Best Buy - you need to know the specifics before you walk in the door because nobody in the store will know anything.
Edit - looks like Chrysler is going to cut 789 dealers.
link
From you link I read,
"Because it is in bankruptcy, Chrysler is not required to buy back vehicles, tools or parts from the dealers who are being dropped. The company will try to link those dealers with other dealers who can buy the inventory."
You can bet GM will file chapter 11 too for the same reason.
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Perrysburg Dodgeboy
Perrysburg, Ohio USA
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Joined: 12/06/2003
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Nardelli: New dealer body will be stronger, more profitable
Posted Thursday, May 14, 2009, 11:53 am in Restructuring Tagged: Dashboard, Lead |
Last modified on Thursday, May 14, 2009, 11:55 am.
Dear Employees,
As an important part of our creation of a new company with Fiat, today we took a major step toward rightsizing our U.S. dealer network and aligning it with the realities of a smaller overall market. Our goal is to create a dealer network that is stronger, more profitable and better able to meet and exceed the high expectations of today’s car and truck buyers.
To begin this difficult process, Chrysler LLC today filed a motion with the U.S. Bankruptcy Court seeking to reject certain U.S. dealer agreements, and submitted a list of U.S. dealer agreements to be assigned to the buyer of its business assets. Subject to court approval, 2,392 Chrysler, Jeep® or Dodge dealers will continue with the new company in a global alliance with Fiat once the sale is complete. Also, pending court approval, 789 current U.S. dealers will see their agreements with Chrysler LLC rejected and will discontinue selling new Chrysler, Jeep and Dodge vehicles effective June 9.
We appreciate the support of all of our dealers over the years and sincerely regret the need to take the painful action of discontinuing our relationship with some of them. As you know, the auto industry is going through an unprecedented falloff in sales in the United States and international markets. We have adapted by reducing the number of vehicle models we build, our production capacity and employees. Now we need to make similar reductions in the size of our dealer body.
The decisions to accept and reject dealers were based on an objective, data-driven review process that was rigorous and thoughtful, taking a number of factors into consideration. We plan to maintain “business as usual” with all of our dealers through this transition, including honoring warranty and incentive payments. We are committed to working with all dealers to ensure an ongoing positive relationship with customers. To ease the burden on dealers whose agreements have not been assumed, Chrysler will work to assist in the redistribution of new vehicles and parts currently held in their inventories.
As I wrote Tuesday, we have signed an agreement with GMAC Financial Services to provide automotive financing products and services to our dealers and customers going forward. A stronger dealer network, supported by GMAC’s long-term finance options for dealerships and customers, is critical to our viability. A smaller dealer network will help increase sales and profits at individual dealers, enabling them to better compete with our marketplace competitors instead of battling each other for market share.
Additional information, including the motions filed, is available at www.chryslerrestructuring.com.
Thank you all for the support you’ve given our dealers through referrals and by continuing to be informed and optimistic ambassadors for Chrysler, Jeep® and Dodge products. Our quality has never been better and our fuel economy performance is improved on 73 percent of our current models. With our ENVI electric-drive vehicles, all-new versions of the Jeep Grand Cherokee, Chrysler 300, Dodge Charger and Dodge Durango, and access to Fiat platforms and technology soon to come, our customers — and all of us — can look forward to even more exciting vehicles from a new and vibrant Chrysler in the near future.
Bob
Perrysburg Dodgeboy
2004 Dodge Ram 2500 Quad Cab SLT Cummins HO
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Perrysburg Dodgeboy
Perrysburg, Ohio USA
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Judge OKs deal to make GMAC top Chrysler lender
Posted Wednesday, May 13, 2009, 11:58 am in Industry
A bankruptcy judge says GMAC can become Chrysler’s preferred lender, the Associated Press has reported.
Pending the completion of certain documentation, U.S. Judge Arthur Gonzales on Tuesday approved the deal between Auburn Hills, Mich.-based Chrysler LLC and GMAC Financial Services, the AP said. Under the agreement, GMAC will be allowed to provide showroom financing to Chrysler dealers and have the right to exclusively offer certain discounted financing rates to Chrysler customers, the news service said.
Chrysler Financial, a separate company from Chrysler LLC, previously was the automaker’s preferred lender. But the financing company said two weeks ago that it would no longer be able to make new loans to Chrysler dealers, the story said. (Associated Press)
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8.1 Van
Millstone NJ
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Joined: 03/20/2008
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Car dealers in New Jersey that could lose their Chrysler franchises, according a federal court filing Thursday:
-Wayne Dodge, Wayne; Dodge, Dodge Trucks
-Compass Dodge, Orange; Dodge, Dodge Trucks
-Elm Auto Sales, Kearney; Dodge, Dodge Trucks
-Mauro Motors, Woodbridge; Chrysler
-Quality Auto Mall, Rutherford; Chrysler, Jeep
-Cherry Hill Jeep, Cherry Hill; Jeep
-Mall Chrysler, Maple Shade; Chrysler
-Liccardi Chrysler Dodge, Green Brook; Chrysler, Dodge, Dodge Trucks
-Burke Brothers, Cape May Court House; Chrysler, Jeep
-Causeway Jeep, East Manahawkin; Jeep
-Loman Chrysler Jeep, Parsippany; Chrysler, Jeep
-Hamilton Chrysler, Hamilton Square; Chrysler
-Laflam Chrysler, Runnemede; Chrysler
-Schwartz Chrysler, Shrewsbury; Chrysler
-Sansone Plaza Dodge, Neptune; Dodge, Dodge Trucks
-23 Dodge, Butler; Dodge, Dodge Trucks
-Berlin Chrysler, Berlin; Chrysler
-Jeep-Eagle 17, Paramus; Jeep
-Grand Dodge of Englewood, Englewood; Dodge, Dodge Trucks
-West End Garage, Rahway; Chrysler
-Walsh Dodge, Jersey City; Dodge, Dodge Trucks
-Tenafly Chrysler Jeep, Tenafly; Jeep, Chrysler
-Wyckoff Chrysler, Wyckoff; Chrysler
-Clayton American, Peapack; Dodge, Dodge Trucks
-Westwood Chrysler Jeep, Westwood; Jeep, Chrysler
-Belle Mead Garage, Belle Mead; Chrysler, Jeep
-Lenihan Jeep, Marlton; Jeep
-Downer Motor Company, Elmer; Dodge, Chrysler, Dodge Trucks
-Coleman Jeep, Trenton; Jeep
-Coleman Chrysler-Jeep, Hightstown; Chrysler, Jeep
2002 Chevy Express LS 3500 8.1 155" WB passenger van 3.73 posi (GT4/G80)
2003 Thor Citation 41-ZBSR 41ft TT
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