Fong must "move metal" at the Italian-controlled automaker.
Chrysler Group LLC today announced it would offer a leasing option starting tomorrow for U.S. customers on all 2010 model year Chrysler, Jeep and Dodge vehicles through Chrysler’s preferred lender, GMAC Financial Services.
Year-to-date, Group sales are of -40% as the one-two punch of impending bankruptcy and a gas guzzling product line combined to knock the company’s vehicles off the consideration list of the few shoppers that were in the marketplace.
Like other automakers, Chrysler, it appears, was caught short with an inadequate supply of small cars — or more troubling for its new taxpayer owners, lack of consumer demand for the cars it has and will have for the next year or two — just as demand for fuel efficient cars surged due to federal government financed incentives under the CARS program, aka Clunkers.
GMAC re-initiated leasing as a financing option at General Motors in early August in support of a lease promotion on select GM models, along with competitive standard rates on all new GM vehicles.
“ We are pleased to re-enter the leasing market so we can offer customers the opportunity to lease vehicles at rates competitive with the marketplace,” said Peter Fong, President and Chief Executive Officer–Chrysler Brand and Lead Executive for the Sales Organization, Chrysler Group LLC. “Our ability to offer additional financing options will benefit consumers who have long been fans of leasing and appreciate the flexibility this financing option gives them.”
Easy Terms!
For car shoppers looking for lower payments – long the allure of leasing – the new financing programs at both Chrysler and GM may not be of help.
GMAC’s Smart Lease is aimed at the customer who wants to rotate vehicles more frequently without the need for trade-in or resale and “is not purely driven by a lower payment,” according to GMAC.
Interested customers should see their dealer for details.
Effective September 17, Chrysler, Jeep and Dodge will offer leasing options for all 2010 model year vehicles in the United States. Featured vehicles with special lease rates through Sept. 30, 2009 are:
- Chrysler Town & Country
- Dodge Grand Caravan, Ram 1500 and Journey
- Jeep Wrangler and Liberty
Chrysler, Jeep and Dodge also offer the following incentives, which are valid through the end of September:
2009 Model Year Vehicles
- Zero percent financing for up to 72 months through GMAC Financial Services or up to $4,500 Consumer Cash on some 2009 model year Chrysler, Jeep and Dodge vehicles.
2010 Model Year Vehicles
- Consumer Cash of up to $3,000 or attractive financing rates through GMAC Financial Services are available on some 2010 model Chrysler, Jeep and Dodge vehicles.
- Current Chrysler Group vehicle owners are also eligible for $1,000 Owner Loyalty Bonus Cash available to use towards the purchase of select 2009 model year vehicles or the purchase or lease of select 2010 model year vehicles.
Chrysler Group offers consumers 35 Chrysler, Jeep and Dodge vehicles from which to choose at more than 2,300 dealerships located throughout the United States.