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jaw drops

WOW....a bad time for used car dealers...


Chrysler Group LLC said Wednesday it is offering $4,500 in cash toward the purchase of a new vehicle as it seeks to match a government incentive for people to trade in their old gas guzzlers.

The automaker said it will offer cash or zero percent financing for six years on most of its 2009 Chrysler, Dodge or Jeep models. The incentive begins Thursday and lasts through Aug. 31.

Chrysler said in a statement that buyers are eligible for the new incentive even if they are not trading in a vehicle under the government's "cash for clunkers" legislation.

....some consumers could, in theory, get up to $9,000 off a new Chrysler vehicle if they trade in and buy the right combination of vehicles. According to the auto Web site Edmunds.com, 16 Chrysler vehicles are fuel efficient enough to qualify a shopper for a tax rebate under cash for clunkers, so long as the trade-in vehicle qualifies as well.

Chrysler emerged from Chapter 11 bankruptcy protection last month under new ownership and is now working to lure back car shoppers in a depressed market. Chrysler sales were down 46 percent for the first six months of the year.
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