05-21-2012, 04:22 PM | #1 |
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Is Chrysler gaining market share by increasing their sub-prime sales?
I read an interesting article in The Detroit Free Press that was overwhelmingly positive toward Chrysler and commented that Chrysler's increased sales performance was mostly driven by improvements in vehicle quality and better management.
Here's a link to the report - click here Part of the report that caught my attention was a statement from Edmunds.com indicating that some of Chrysler's sales gains may be due to a higher portion of their sales coming from sub-prime customers. Here's an excerpt from the report: There's also evidence that Chrysler is pursuing buyers with lower credit scores than most of its rivals, said Jessica Caldwell, analyst for Edmunds.com. She credits Chrysler for seeing the opportunity.Maybe I'm a born skeptic, but is it possible that 20% of the retail Dodge buyers have a finance rate in excess of 10%? Additionally, suggesting that customers with credit scores below 700 are paying 10% interest doesn't seem correct. Sub-650, maybe, but not sub-700. Is your store selling more cars to sub-prime customers? Are you getting deals bought that your local GM and Ford store can't get done? |
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