It looks as if the current turbulent chapter of the American auto industry reached a climax last week with the bankruptcy filings of both Chrysler and General Motors.
After months of uncertainty, credit union auto lenders can begin to brace for the fallout and look ahead at the mass restructurings that are sure to come. Last week, after a delay caused by a temporary stay issued by the Supreme Court, Chrysler completed its deal with Fiat.
The fallout from the near-collapse of two of the Big Three American automakers is beginning to unfold as some of the 800 Chrysler dealerships and 1,100 General Motors dealerships that will close over the next year start to shut their doors.
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