Buying Chrysler Vehicles
Chrysler has filled for bankruptcy,which is also known as chapter 11. Chrysler could not keep up with its debtors because of the economic situation. Basically, Chrysler wasn’t selling enough cars. There was more cars (supply) than buyers (demand). In economics, this type of situation means that the prices of goods (cars) would have to fall down. In Chrysler situation, it didn’t really fall down. Instead they were given good deals. Chrysler just want to get the cars off from its hands.
Now that Chrysler filed for Chapter 11, they plan on closing down some properties. They want to suspend some factories from production. They also will close down some factories. This means that their spare parts supplies would either have to look for other cars companies to work for, close down or file for bankruptcy.
Chrysler said they would not close their service line. It would remain open. But if spare parts manufacturers close down, this would increase the delay to get the spare parts. This would not be good for the customer. The government is also planning of back Chrysler with some bail out money.
