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NEW YORK (CNNMoney.com) — The car company that is off to the worst start of 2010 isn’t Toyota. It’s Chrysler Group.
Industry experts say that even though Chrysler’s overall sales are down only 3% during the first two months of the year, estimates show more than half of Chrysler’s sales have been to fleet customers, such as rental car companies.
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NEW YORK (CNNMoney.com) — About 900 General Motors and Chrysler dealerships that got the ax as the Detroit giants went through bankruptcy have filed notice that they will appeal their shutdown, according to the American Arbitration Association.
The nearly 3,000 dealerships the auto manufacturers scrapped have until Monday to file with the AAA for an independent arbitration of their case. But applications from dealers are still rolling in, so it’s hard to tell what the final count will be, said India Johnson, senior vice president of AAA.
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NEW YORK (CNNMoney.com) — Three months after coming through a federally-financed bankruptcy, the new Chrysler Group still faces serious trouble with no quick solution in sight.
The carmaker may have been given a sleek and shiny new balance sheet, but the products on the showroom floor are the same stale cars and trucks from before and there’s not much new to look forward to.
In the hyper-competitive American car market, that empty product pipeline is potentially disastrous. Newly designed and engineered cars and trucks are what keep automakers in the game.
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DETROIT (Reuters) — Chrysler Group LLC. has sued Daimler AG, saying the German automaker has failed to honor supply contracts for parts essential for the production of key 2010 Chrysler vehicles.
Chrysler, which emerged from bankruptcy in June under new management led by Fiat SpA, said in the lawsuit filed Friday it would be forced to halt production of several 2010 model year vehicles if it does not get the components.
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CNNMoney.com) — After filing for bankruptcy, Chrysler in May notified almost 800 dealers around the U.S. that they would lose their franchise licenses and be kicked out of the restructured automaker’s dealer network. Steve Biegler, who runs the dealership his grandfather started, was one of those targeted. Last week, Chrysler sent out representatives to finish dismantling his store’s branding.
When they took down the sign last week, my emotions were up and down. One minute I was okay with it and the next I was mad as hell. It brought me back to May 14, when we received the letter from Chrysler saying we would no longer be permitted to sell Jeeps.
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