Chrysler to stop lease deals

Egypt News.Net
Friday 25th July, 2008

Chrysler plans to get out of the auto leasing business before the end of the year.

The company has recently experienced large losses on leased sport utility vehicles and pickup trucks because of large drops in residual values.

Chrysler executives are now discussing the means of securing their dealers.

The decision has come only a day after the Ford Motor Company credit group took a $2.1 billion charge because of the drop in the residual value of leased vehicles.

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