9 months ago
DETROIT (AP) -- It's a buyer's market at nearly 800 Chrysler lots across the U.S.
The Detroit automaker is dropping the dealerships and leaving
them with 44,000 cars on the lot. The dealers have just a few weeks to sell off the cars and Dave Champion of Consumer Reports says buyers have "got some very good negotiating power."
Champion says dealers are eager to shift inventory that's
"stacking up all around them."
But, Chrysler is arranging homes for its unsold cars. Dealers
that Chrysler plans to keep will get loans so they can take on some of the unsold inventory.
Still, one analyst expects remaining dealerships will be
reluctant to take on more cars, meaning those who are shutting down may sell them at a loss.
GM, meanwhile, is planning to lose 1,100 dealerships itself.
But, the company isn't seeking bankruptcy protection, meaning
dealers have more leeway.
