Chrysler to exit the leasing business on Aug. 1, 2008
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Saturday Chrysler Financial has announced that it plans to exit the leasing business. In a bold move that has shocked the industry, this announcement was made on Saturday.
Spokesman Bill Porter announced, that the product mix in the United States will not include lease products in the United States.
The consumer market, as well as the erosion of residual values, have forced Chrysler, owned by Cerberus Capital to exit lease operations. As a large percentage of Chrysler product is trucks and SUV’s, which have fallen the greatest in recent times, it is hard to argue with Chrysler. It is just a very strange occurrence that they have announced to exit leasing in its entirety.
read more at the link...
that said, this is a scary time to be a manufacturer or even an employee at one of these places.