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Chrysler Wants Another $1.5 Billion to Give Out More Auto Loans

Chrysler Chief Executive Bob Nardelli is asking for another $1.5 billion from the US government to fund the company's financial arm, which would allow for more loans to individuals that haven't been able to qualify.

Due to the credit crunch it has become increasingly harder for individuals to receive financing, since banks are now requiring better credit scores and higher down payments.

In January the US government gave $1.5 billion to Chrysler Financial, which allowed Chrysler to subsidize zero percent interest loans on new vehicles.

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Report: Chrysler, GM Reviving Merger Talks [Carpocalypse Now]

As expected, Chrysler and GM appear to be reviving merger talks. Oh joy. Guess we get to dust off that Chrysler-GM merger photoshop contest again, don't we? [MSNBC]

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Chrysler Auctioning Off An Entire HEMI Assembly Line [Industry News]

Chrysler's figured out how to build the 5.7-liter and 6.1-liter HEMI engines on the same line. Now they're auctioning off the redundant 6.1-liter HEMI assembly line. What would you do with it?

Chrysler is auctioning off an entire 6.1-liter HEMI assembly line in Saltillo, Mexico. Yes, you read that right; the WHOLE assembly line which includes the conveyor; main bearing cap bolt; oil pump; front cover; oil pan bolt; rocker shaft; piston; pin and connecting rod assembly; and a cold test station.

Chrysler spokespeople tell us Chrysler's manufacturing team at the Saltillo Engine Plant were looking at ways to be more efficient and productive. After some research, they determined they have the capability to produce the 5.7-liter engine and the 6.1-liter engine on the same assembly line. As a result, some of the equipment for the original 6.1-liter line was not needed and therefore is now in the process of being put up for auction. So, it's all redundant equipment. Yeah, some of the coolest redundant equipment on Earth!

The auction runs from December 11th through the 16th and is being handled by Hilco Industrial Auctions. We hear if you call now, they may even throw in a second HEMI line for three easy payments of $19.95!

Chrysler also tells us they're not selling any parts of the line that would compromise its technology from improper/illegal production by a competitor. We don't even know if you can still build an engine with the line. But if you could, it begs the question — what would you do with it?

[via Hilco Industrial Auctions]

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Saving the Auto Industry?

Chrysler has been hurting lately, with plans to close at least its St. Louis truck plant, halting and/or reducing some minivan and truck production. Of course, this isn’t the first time Chrysler has had problems. They went through some trying times back in the K-car days. Those cars were relatively efficient at the time but none too sexy, and had other problems.

Still Chrysler lived through it - does anyone remember who bailed them out? Despite their problems, they’re part of the U.S. auto industry and it’d be a shame - economically - if the company went under. I’m not just saying that because I currently have a Dodge Caliber - my first domestic ever - though the videos like the one below worry me.

With suggestions that a Chrysler sale is near, despite denials by a spokesman, they’ll probably recover. Fortunately, they’re not considering bankruptcy, according to various spokespeople. The upshot of that is that some jobs will be saved.

If the company is for sale, though, who would buy them? Cerberus Capital Management has majority control, thanks to the original Daimler AG deal. Chrysler is unlikely to merge with an existing American automaker. That leaves what, European or Asian automakers? I don’t see that happening. Am I missing something?

Of course, Chrysler is not the only American automaker hurting. The whole industry is, with many job layoffs pending in the US and Canada. The head of GM recently told Obama how the U.S. auto industry could be saved. His suggestions include support and tax credit for new technologies, and assistance for converting factories, amongst other measures.

But will any of this be implemented in time? It’s not like we as a society can do without cars, but if you drive, you already know how much the cost of gas is hurting us. That affects our entire way of life, threatens jobs and the economy.

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Chrysler officially hops on board 12-state credit union loan band wagon

Filed under: Chrysler, LLC., Dodge, Jeep, Earnings/Financials

Last week, GM partnered with credit unions in four states to offer up to $10 billion in new car loans and incentives. Not one to be left shivering alone in the cold, and with November sales down nearly 28% compared to last year, Chrysler LLC has just announced their own 12-state credit union program allowing its customers access to upwards of $12 billion in auto loan financing. The partnership (also called "Invest in America") gives participating credit union members additional $500 to $1,000 rebates on most Chrysler, Jeep, and Dodge vehicles. Steven Landry, Chrysler's executive VP of North America sales, says, "We are confident that the Invest in America program and credit union member cash will provide significant value for our customers and the economy as a whole during these challenging times." While additional cash on the hood of a new Chrysler sounds appealing, we really don't think that buyers are avoiding showrooms due to a lack of financial incentives -- it's been a buyer's market for months.

[Source: Automotive News - Sub. Req.]

Chrysler officially hops on board 12-state credit union loan band wagon originally appeared on Autoblog on Fri, 19 Dec 2008 07:31:00 EST. Please see our terms for use of feeds.

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1,000 2008 Challenger SRT8s are built and shipped

If you’re one of the luck few that is responsible for the 6,400 units of the 2008 Dodge Challenger SRT8 selling out, you’ll be happy to hear that 1,000 of them have been built. Dodge...

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KBB names 2008 Top 10 Best New Road Trip Vehicles

Kelly Blue Book’s kbb.com has announced its picks for the 2008 Top 10 Best New Road Trip Vehicles. In picking the vehicles kbb.com took into account driving enjoyment, passenger comfort, cargo...

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Mercedes-Benz to buy Chrysler Pacifica Advance Design Center

Seems like Daimler and Chrysler can still play nice. Mercedes-Benz is planning on buying the Chrysler Pacifica Advance Design Center in Carlsbad, California, the studio known for the Plymouth...

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Torsion Quiet Ride, Comfort As You Drive: The 1975 Chrysler New Yorker Is The Talk Of The Town! [Classic Ad Watch]

Now that the '75 New Yorker is quite the collector's car, with original examples changing hands for upwards of several dozen dollars, we can understand why Jack Jones was so appreciative of the deep-tufted velour interior and 230-horse 440 under the hood. But that sticker price of $6,611 was more than a grand more than the Cordoba's- talk about car buying dilemmas! And check out the bit right before the ad- Game 7 of the 1975 World Series!

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Chrysler Exec Points Out the 5 Road Blocks for Alternative Fuels

chrysler_new_logo01_phixr

Chrysler’s Senior Manager of Energy Planning and Policy, Loren Beard, describes the five anti-alternative forces that are seeking to stymie the fuel alternatives. For years people have blamed the auto industry for being part of the problem by being in cahoots with the oil barron’s. Beard’s remarks bring all the obstacles together to point out that, as would be expected, everyone seems to be looking out for their own interests.

Follow the leap to learn what the 5 obstacles to alternative fuel solutions are.

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How would you like a new Chrysler?

Chrysler is celebrating the new era that they are entering, with the management change to Cerberus. The company wishes to pas on the good cheer to the car buying public by running what they call “The New Chrysler Premier Event” the main thrust of this will take place at the dealerships with a grand car give away.

Now it does not get better than that, a car maker giving away fifteen different brand new cars, these are listed below:

The New Chrysler Premier Event

The cars that Chrysler are giving away:

Chrysler Aspen, Crossfire, 300C and Pacifica;

Dodge Caliber, Charger, Dakota Crew Cab, Durango, Magnum, Nitro and Ram Mega Cab;

Jeep Commander, Compass, Grand Cherokee and Liberty.

The New Chrysler Premier Event

It is safe to say that there is car there everyone and every occasion, in order to be in with a chance of winning one of these cars. All a customer needs to do is visit one of the local Chrysler dealers on the 15th August and they will be given full details of the event and how they can enter.

To the Chrysler dealer nearest to your location all you need to do visit the Chrysler LLC Website, where you can find out more about the event and how to find the dealer nearest to you. However you will only be able to visit the dealer on the 15th August between 18.00 hrs and 21.00 hrs.

Source [Auto Blog]

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$1,000 to Woo Sedan Owners to Chrysler Sebring

2007chryslersebring_1

Do you lease a Toyota Camry, Honda Accord, Nissan Altima or Ford Fusion? Are you happy with them? If not, Chrysler is offering $1,000 to anyone who trades in a competing model when they buy a new Chrysler Sebring. The redesigned Sebring is entering extremely competitive waters and we’re not sure if $1,000 would be enough to sway an already happy driver.

While it might seem like a desperate move, the program – which runs through Nov. 30 – brings attention to a redesigned car that hasn’t garnered much buzz since its release. It also brings in barely used, highly sought after cars to dealerships when the cars are traded in. We understand Chrysler doesn’t want to put a true rebate on a brand-new car but they could’ve come up with something a little more persuasive.

[Chrysler: $1,000 For Your Sedan, The Detroit News]

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Chrysler Announces New Electric/ Hybrid Division (ENVI)

It seems like every automaker is jumping on the "green" bandwagon. Chrysler has announced the creation of a new engineering division that is specifically focused on hybrids and electric vehicles.

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Nissan, Chrysler team up for compact car and pickup

Expanding on their product shareing alliance, Nissan and Chrysler announced today that Chrysler will begin builing pickup trucks for Nissan while Nissan will produce subcompact cars for...

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What Were the Top 20 Best Selling Vehicles in the US Through July?

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What Were the Top 20 Best Selling Vehicles in the US Through July?

Reuters has posted a list of the 20 top-selling vehicles in the U.S. through July of 2007. There aren't really any big surprises here.

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