Report: Chrysler already concerned about GM’s financial plans
By Andrew C., 27 Aug, 2010. 0 Comments
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Yesterday, 4WheelsNews reported that General Motors Co. could return to the auto-lending business and buy back GMAC. Apparently, this news made Chrysler raising concerns and CEO Sergio Marchionne said that they don't want to have an uncompetitive relationship with GM when it comes to offering lease and loan deals to consumers. GM, which is now called Ally Financial is known as the preferred lender for both GM and Chrysler. The word is that GM is currently exploring whether to buy back the auto financing business from GMAC or start a new one. For those who don't know, GM sold a 51 percent stake in GMAC in 2006. The new owners of the auto financing business had to be bailed out by the federal government, and now the government owns 56 percent of the company.
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