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  • Chrysler requests finance cash

    Mar 18, 2009 10:58 AM

    Chrysler has requested more money from the US government for its finance arm, saying that it can improve sales by 20 per cent if it can provide credit to buyers.

    CEO Bob Nardelli made the request to the US Treasury, which originally lent $1.5 billion to Chrysler Financial in January. He has not specified how much more money Chrysler wants.

    Figures show Chrysler Financial financed 29,000 deals in February, up from 8000 the previous month.

    However, Chrysler sold just 84,050 ve...Read the full article
  • Re: Chrysler requests finance cash

    Mar 18, 2009 11:12 AM

    Autocar:
    Chrysler has requested more money from the US government for its finance arm, saying that it can improve sales by 20 per cent if it can provide credit to buyers.

    - this most surely go down as one of the greatest/most laughable sayings to date in this whole 'Alice Through the Looking Glass' economic bust. It's like a publican saying to a brewery 'I can shift more beer if you provide the dough to set up tabs for my thirsty drinkers'. Who would have thought it.

    Nardelli, you punk, it was this cocked-up, ponzi economy, credit binge that brought about the collapse in the first place. Be honest you miserable liitle git and admit you just want dough from somewhere else to prop up a bust business. Hell, if money/credit's the problem standing in the way of 'pent-up' demand why not just go the whole hog and give people cash direct, by printing up new readies. The same argument is applied by economic 'geniuses' to housing. There's tons of pent-up demand if only mortgages became freely available again. Yeah and amongst Autocar readers there's 100% pent-up demand for most supercars under the sun but that don't mean we all deserve dough to be able to buy them. Hell if we did, what's the point in working, being economically productive? Why not just whistle up a few more bundles of cash from the doughmine and stop worrying. What could go wrong with such a system?

    And Nardelli, if it's lack of finance for Chrysler buyers you're worried about how about speaking to your employers at Cerberus who are starving GM dealers of finance deals from the Cerberus majority-owned GMAC company. You couldn't make this nonsense up.

  • Re: Chrysler requests finance cash

    Mar 18, 2009 11:32 AM

    horseandcart:
    Hell, if money/credit's the problem standing in the way of 'pent-up' demand why not just go the whole hog and give people cash direct, by printing up new readies. The same argument is applied by economic 'geniuses' to housing. There's tons of pent-up demand if only mortgages became freely available again.

    Please Lord, let me not be seen as standing up for Chrysler BUT the fact is that lenders have become so shy that their lending criteria does seem to be creating a bottle neck. Ask any dealer. Surely what we need is neither a. 2007-style borrow-what-you-want lending or b. 2009 style almost-non-lending but c. somewhere in the middle where people can get sensible levels of credit commensurate with the risk they represent.

  • Re: Chrysler requests finance cash

    Mar 18, 2009 11:48 AM

    Autocar:
    CEO Bob Nardelli made the request to the US Treasury, which originally lent $1.5 billion to Chrysler Financial in January. He has not specified how much more money Chrysler wants.

    Chrysler wants all of it. Whatever money there it, it wants it. For free. Without ever having to pay it back.

    There is an issue with credit as far as loans are not available at anything close to the base rates, but credit is available to any sensible customer. Just not one that is hocked up to the eyeballs with their mortgage and credit card debt and has no way of repaying this.

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