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Chrysler Dealers Still Hoping for the Automaker's Survival

The same day that American billionaire andToyota Motor Corp. Jeeps, Dodge trucks, and
investor Kirk Kerkorian offered a bid of $4.5minivans have accounted for 70 percent of
billion for Chrysler Corp., is the time thatChrysler's sales at the time when gasoline
a car salesman in Southold, New York was alsocost  nearly  $3  a  gallon  in  the  US.
dusting  off  a  framed  print.
The  Struggle  of  Chrysler  Dealerships
Chrysler dealer Dick Mullen said last April 5
while smiling at an editorial cartoon fromMullen for his long years of selling Chrysler
the 80s, "Time to hang this up again. Itproducts have weathered out very storm. He
shows a car bursting from the ground beneathand his father each bought $10,000 of
a  gravestone  marked  ``Chrysler:  R.I.P.''Chrysler's debentures in 1980 that earns them
11 percent interest per year interest. It was
Mullen's shop has stayed on Long Island'salso their Chrysler dealership that was the
northeast corner for 80 years and has witnessfirst to sell Jeep in the US after the
to the rise and fall of Chrysler throughcompany bought American Motors in 1987.
decades of miscues. Way back in the 80s theMullen has met Iacocca twice and later he was
good old Mullen has loaned Chrysler someinvited along a handful of dealers at a lunch
$10,000 when it was nearing bankruptcy. Andat  New  York's  Waldorf  Astoria  hotel.
today Chrysler's future is again on the brink
as its German parent DaimlerChrysler AG isThe main purpose of Daimler for purchasing
opening all options for its sale. Despite theChrysler is to gain mass-market American
somewhat bleak future that Chrysler is facingfoothold. Unfortunately instead of the gain
today, Mullen remained calm and unafraidit is expecting it has found itself
leavening  the  wait  gallows  humor.struggling because of price discounts and
union retiree costs that add $1,300 to the
According to Mullen, 70 when he told salesprice of each car. And today with oil prices
Chief Steve Landry at New York Auto Show lastsurging high some investors see the future of
April 4, "It's the fourth time I'm going outChrysler  as  becoming  bleaker  than before.
of business with you guys, I'm getting a
little tired of it." He also suggested forAccording to Tim Gilbert, who helps manage
Chrysler to write a book based partly on his$10 billion in assets including
up-and-down ride and pass it out to futureDaimlerChrysler bonds at principal Global
executives.Investors in Des Moines, Iowa, "When the
product cycle turned, the ugly really
Landry said as a way of confirming hisoutweighed the good." He also said that he
conversation with Mullen, "Most of ourfirm is adding more bonds of the Stuttgart
dealers have faith, and they know thatGermany-based carmaker because it should be
whatever happens, our brands and products aremore  stable  if  it  sells  Chrysler.
not going anywhere." He also said that he
plans of meeting with as many as 50dealersDaimlerChrysler shares on the New York Stock
this year to answer questions and to mendExchange have jumped 25 percent to $80.69
relationships.since the company has announced last February
14 of its plans of getting rid of its
Surveying the business of Mullen and the restmoney-losing  arm  Chrysler.
of his fellow car dealers on Long Island,
it's hard to miss the obvious fact that theOverproduction  is  the  Problem
Japanese carmakers influence has also reached
Long  Island.Mullen says that Eaton was smart to sell when
Chrysler was riding high. But he was less
The  Unionhappy last year, when Chrysler's production
outstripped demand. Mullen and the other
Chrysler maker of Dodge truck parts and Dodgedealers were left with unwanted vehicles.
truck accessories has been a one of the 'BigThis has provided Mullen with the idea for
Three' US automaker alongside General Motorshis book which he has given the theme:
Corp. and Ford Motor Co. way back in 1929.'Overproduction  causes  problems.'
Unfortunately out of the 'Big Three" it's
only GM that has successfully maintained itsLandry also said that he is aware that
post.dealers were upset and that is why he's
meeting with many of them this year. The most
The wrong decisions that have been plaguingperplexing thing that Mullen found on the
Chrysler started back in 1970s when thepotential sale is that Chrysler cars have
Auburn Hills, Michigan-based automaker try tonever been better. As a matter of fact the
push gas guzzlers as oil buying habits wereCrossfire sports car shares 40 percent of its
changing. Chairman Lee Iacocca was able toparts with Mercedes including the engine. The
avoid bankruptcy when it acquired $1.5Chrysler 300 on the other hand makes use of
billion government-guaranteed loans. After athe same axles and transmission as the
revival behind the compact K-car and theMercedes  E-Class  sedan.
minivan, the US automaker once again embarked
in 1998 on a rocky $36 billion union withChrysler is also narrowing the quality gap
Daimler,  the  maker  of  Mercedes-Benz.with Toyota just last year the average new
Chrysler had 12 percent more problems than a
The union only plunged Chrysler to gravertypical Toyota basing on the results found by
financial crises that went on for more yearsresearcher J.D. Power & Associates in
than anyone can remember. Chrysler hasWestlake Village, California. But despite
obtained a $1.5 billion loss which promptedsuch that average is much better than the
its German parent to investigate a sale. Itaverage industry gap of 15 percent and far
was also then that Chrysler has surrenderedbetter than the 22 percent that Chrysler
the No.3 slot in the US market share toincurred in 2000.



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