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Bankrupt Chrysler LLC is rushing to sell its assets as fast as possible because it wants to close a deal with Fiat SpA, possibly by Friday noon. Chrysler terminated the franchise agreements of 789 dealers and is now forced to liquidate that inventory.

Chrysler filed for bankruptcy on April 30 and all plants have been closed since May. Yet during that time Chrysler reported strong retail sales, much of it coming from dealers who are closing.

Customers who are buying are looking for fire sale prices. Discounts of $8,000 on 2008 models and $4,000on 2009 models are enticing customers even more. Plus there are added discounts for loyal Chrysler customers and those financing through credit unions, and 0% financing through, ironically, GMAC.

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Chrysler bankruptcy almost over originally appeared on BloggingStocks on Wed, 03 Jun 2009 14:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>chrysler bankruptcyChryslerBankruptcyFiatinthenewsWed, 03 Jun 2009 14:00:00 EST<![CDATA[Toyota posts first annual loss in 59 years]]>http://www.bloggingstocks.com/2009/05/08/toyota-tm-posts-first-annual-loss-in-59-years/http://www.bloggingstocks.com/2009/05/08/toyota-tm-posts-first-annual-loss-in-59-years/http://www.bloggingstocks.com/2009/05/08/toyota-tm-posts-first-annual-loss-in-59-years/#commentsFiled under: , , , , , , , , , , , , ,

Toyota 2009 LossGiving a clear indication of just how low demand for new autos has fallen, the world's largest car maker, Toyota (NYSE: TM) posted its first annual loss in 59 years this morning.

We all know that the auto industry is in major trouble. We have America's big three all fighting for their lives, and Chrysler has already been forced to file Chapter 11 bankruptcy.

Continue reading Toyota posts first annual loss in 59 years

Toyota posts first annual loss in 59 years originally appeared on BloggingStocks on Fri, 08 May 2009 08:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>autoscar salescarsCarSalesChryslerchrysler bankruptcyChryslerBankruptcyDetroitearningsFfeaturedFordGeneral MotorsGeneralMotorsGMHMCHondaJapanTMToyotaFri, 08 May 2009 08:00:00 EST