Chrysler to stop leasing; GM offers employee prices

SAN FRANCISCO (MarketWatch) — Two Detroit automotive powerhouses made moves in attempt to stanch their bleeding Friday as gas-guzzling trucks and SUVs continue to sit idly on U.S. car lots.

Chrysler LLC’s financial arm, Chrysler Financial, will stop offering vehicle lease options in the U.S. in order to focus more on financing vehicle purchases, according to multiple media reports Friday. Leases will no longer be an option Aug. 1. The automaker is expected to brief dealers in a conference call late Friday.


General Motors also said Friday that it will allow its employees to offer an employee pricing discount to any one person of their choice through the end of July. An employee discount can slash thousands of dollars off the retail price of a vehicle.

News also surfaced Friday that Chrysler will offer zero percent financing for up to 72 months on some larger vehicles, such as the Jeep Grand Cherokee and Commander and Dodge Aspen.

MarketWatch