Chrysler Shuts Down All Production

Friday will be the last day of production as Chrysler shuts down for 30 days — citing lack of available consumer credit.

CNNMoney says that all 30 of the company’s plants will shut down and employees will not return until January 19th. Ordinarily, the company shuts down production for about two weeks — from Dec 24 – Jan 5. The employees will not receive their full paychecks.

The company said that there are many willing buyers out there — but no available credit.

“Chrysler dealers confirmed to the company at a recent meeting at its headquarters, that they have many willing buyers for Chrysler, Jeep and Dodge vehicles but are unable to close the deals, due to lack of financing,” the carmaker said in an announcement. “The dealers have stated that they have lost an estimated 20% to 25% of their volume because of this credit situation.”

Chrysler shuts down all production [CNNMoney]
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