Chrysler LLC is preparing to send all existing customers certificates good for $1,000 toward the purchase of new vehicles between now and the end of June, a person briefed on the program said.
The certificates will be mailed along with copies of a letter from Chief Executive Robert Nardelli, Chrysler officials told dealers in a web cast, this person said.
The certificates are meant to boost Chrysler’s sales as it reorganizes under bankruptcy protection, and to help some of the 789 dealers Chrysler plans to drop from its retail network. The auto maker announced the reduction in its dealer body on Thursday. The dealers to be eliminated will be dropped by around June 9, if the plan is approved by the U.S. Bankruptcy Court in Manhattan. Those dealers have to either sell their inventory of new vehicles to customers or to surviving dealers.
The certificates will be sent to more than nine million owners of Chrysler vehicles and can be used toward the purchase of any Chrysler models, the person briefed on the matter said.
(Source: WSJ) (Taken almost entirely from: Yeshiva World News)
(MRN- 18)
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