Money | 05/14/2009 11:30 am

Chrysler Dealerships Closing Totals 789

The automaker Chrysler will shutter dealerships as part of its bankruptcy plan.

By The Staff at wowOwow.com

Beleaguered automaker Chrysler announced today that it will close 789 dealerships as part of its bankruptcy plan. That’s about 25% of its outlets across the nation. The move will affect countless Americans.

Though the news certainly counts as bleak, Chrysler insists that the move will not impact its sales. "After a period of time, and substantially improved marketing and investments, overall sales in the reduced network are anticipated to grow beyond current sales levels within the existing network."

Meanwhile, CNN reports that GM may be cutting up to 42% of its dealerships by the end of the year.

Read more about: Bankruptcy, Business, Chrysler, Chrysler Dealerships Closing, News

8 Reader Comments (so far…) Sign In or Register to comment

This is so utterly sad for all the people effected, and it will reach far and wide.

By DeBúrca obj on 05/14/2009 12:01 pm

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I feel especially sad for the American taxpayer that now has to give yet some more money….7 BILLION more . While Fiat gets 2% for almost nothing.

Guess who benefits from Fiat getting in? Guess who controls Fiat…Libya…guess who controls Libya…Moammar Gadhafi.

Once again Obama has set up something that is other than what is seems….once again.

Ask why Obama forced this deadline on Chrysler, effectively making any negotiations with Fiat a loosing situation for Chrysler. So stupid how some only focus on the obvious and never look to see what the other hand is doing….

By Kelly In Texas on 05/14/2009 2:00 pm

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How sad to see this historical moment in our country. The families who thought they did all the right things for a bright future are now faced with having to re-invent themselves while they struggle for survival in many cases.

By starry Nite on 05/14/2009 12:18 pm

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starry..there are many of us in industries other than the auto industry who have been going through this for a year. It is not just now historical… Unlike the self employed they at least get unemployment!

I cashed in my retirement account today….. hated to do so..but gotta live to see 66 first. From the news yesterday..there may not be funds to cover even then.

By S.J. Morgan on 05/14/2009 5:17 pm

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What is your point? I should only feel sorry for you and other small business owners? Auto industries are bad? I am glad you own a ford. I purchased Ford stock at a $1.74 and made a good profit when I sold at $6.00.

By starry Nite on 05/15/2009 12:48 am

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The point..and I do not expect any sympathy from you for our situation ( due mostly to your hate for business in general) even though hundreds of thousands of business like mine are struggling. The difference is we do not have large union labor shops that get the attention. Those who wrangled bailouts from the government and then still filed for Bankrupcy….. where is the help for us? No where..already know that.

Ironically my local paper indicates that the dealerships that are being closed were not profit makers to begin with so the consolidation will actually make business better for those who stay. Many of those laydoff employees may find emploment with the existing ones as their business increases to pick up the difference. Things that shoudl have been done long ago maybe?

Glad you made a profit on your FORD stock..did you have to sell your stock to make you house payment?..I just did.

By S.J. Morgan on 05/15/2009 8:38 am

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I do not have a hate for business only exploitation of people. The reason unions came into existence was the mistreatment of workers. Business abused their workers. The banking and financial industries just proved they cannot be trusted to do the right thing. Greed takes over. It has happended before on wall street. Regualtions had to be put in place. You blame innocent people for your difficulties.

You often expressed a callous disregard for people. You ask if these downsizing efforts should have been done a long time ago. I am sure many things should have been done to innovate the auto business. Don’t blame it on the union that is a load of crap. Many companies have unions.

You seem to hate "big" business. What is your obsession with small business ? Most small businesses grow to big business if they are successfull.

By starry Nite on 05/17/2009 1:35 am