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Chrysler LLC Statement in Response to GMAC Financial Services Investment

Posted on: Friday, 22 May 2009, 17:00 CDT

AUBURN HILLS, Mich., May 22 /PRNewswire/ -- The following comments on Chrysler and GMAC Financial Services can be attributed to Jim Press, Chrysler Group Vice Chairman and President, North American and International Sales, Global Marketing, Product Strategy, Service and Parts:

"With nearly 90 percent of our U.S. dealers now activated for retail business through GMAC Financial Services, we're very pleased about the U.S. Department of the Treasury's announcement yesterday to invest in GMAC, to originate new loans to Chrysler dealers and consumers. As Chrysler transitions our dealer network, we are also very pleased with the speed and professionalism that GMAC Financial Services has demonstrated to Chrysler and our dealers. We look forward to a successful partnership that benefits both our consumers and dealers."

Earlier in the month, Chrysler LLC signed a financial services agreement with GMAC Financial Services to provide the automotive financing products and services to Chrysler's dealers and customers. GMAC Financial Services will be the preferred lender in North America for Chrysler, Jeep and Dodge dealer and consumer business, including wholesale of new and used vehicles as well as retail. GMAC Financial Services will be able to offer the best long-term finance options for Chrysler LLC dealerships and customers, and is established as a bank holding company with access to a variety of funding sources.

SOURCE Chrysler LLC

Source: PR Newswire

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