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Tight Credit Puts Squeeze On Big Three Auto Dealers

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Financial squeeze on automobile dealers as GMAC and Ford Credit and Chrysler's financial arm see a deterioration in their condition and can no longer provide the favorable financing and loans to dealers. Bill Heard Enterprisesone of the largest Chevrolet dealers in the USA with 2007 sales of $2.1 billion faces financial losses and GMAC has stopped doing business with the company which has a chain of 14 stores.

Financial squeeze on dealers as GMAC, Ford Credit and Chrysler's financing arm cannot provide same level of support.

04/04/2006

As the automakers financing groups GMAC, Ford Credit and Chrysler's car financing arm see a deterioration in their condition, dealers are facing a squeeze too. The loans and financing previously available are being phased out for some dealers. The situation as the auto industry in Detroit faces the need for a government led bailout and the planned bankruptcy filings for GM and Chrysler.

Grouped Articles

GM Seeks Partners for Car Loans

Wall Street Journal 06/24/2010

Tight Credit Puts Squeeze On Big Three Auto Dealers

Wall Street Journal 08/28/2008

GM Again Sees Need for GMAC

Wall Street Journal 01/11/2011

For Car Dealers, a Bleak Lot Brightens

Wall Street Journal 02/23/2011

GMAC: Is GM Selling Its Seed Corn?

BusinessWeek 04/04/2006

On the Road to Detroit's Big Pileup

New York Times 10/01/2011


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