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David Stanley Ford

In brief: Automaker to cut prices

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Published: October 31, 2009

Automaker to cut prices

Coming to your local Chrysler, Dodge or Jeep dealer: Tractor-trailers full of cars and trucks with lower sticker prices. The big discounts are part of new Chief Executive Sergio Marchionne’s attempt to revive the Detroit company the way he did Italian automaker Fiat. His five-year plan for Chrysler Group LLC, to be unveiled Wednesday, calls for deep discounts across many models over the next 18 months. The goals: lift sales and generate cash.

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Investor OKs credit line
Commercial lender CIT Group Inc. said Friday that billionaire investor and bondholder Carl Icahn agreed to support the company’s restructuring plan and provide it with a $1 billion line of credit. Icahn has been an outspoken critic in recent weeks of New York-based CIT Group’s plan to restructure its debt in an effort to avoid collapse. CIT, one of the largest lenders to small and midsize businesses, has been trying to reduce its near-term debt burden by $5.7 billion.

From wire reports

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David Stanley Ford



used jeep price cut
Used Car Pricing and Research Get Jeep Discounts.
www.Edmunds.com
Chrysler's New Plan
Chrysler Group Recently Announced a New 5-Year Plan. Learn More Here.
www.ChryslerGroupLLC.com

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If they can sell at deep discounts then that means that every price to date was horribly over inflated. The fact is the MSRP (Monroney Sticker) on that auto includes about 25-30% in pure profit.
Doug, Midwest City - Oct 31, 2009 at 11:05 am
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