Chrysler asks dealers for help to meet loan plan

 Chrysler is asking dealers in the US to accept cost cuts and order vehicles as it races to restructure and secure additional government aid.

Chrysler obtained $4bn in loans from the US government in December and is seeking another $3bn in loans.

At the National Automobile Dealers Show in New Orleans, dealers were asked to their bit to help the car maker get through the current crisis.

Chrysler vice-chairman and president Jim Press told media after the closed dealer meeting that dealers would have to make some concessions.

“Dealers are going to have to give some things up. They understand they can help save us all some money.”

Press said dealers would stock the same inventory levels going into March as they did in December.

Last week, Chrysler moved to give Fiat a 35 per cent stake in the company in return for access to Fiat’s small car platforms.

It has also been asking other stakeholders, including the United Auto Workers Union, to make concessions in difficult times.