DETROIT -- Chrysler LLC, which launched a test loan program with credit unions in 12 states last month, has expanded the program to all 50 states.
The program, called Invest in America, will give credit union members additional rebates of $500 to $1,000 on most Chrysler, Dodge and Jeep vehicles. The expanded offer takes effect Tuesday. Qualifying credit union members will get the rebates on top of other incentives Chrysler offers.
We had fairly decent success with Invest in America in December, said Steven Landry, executive vice president for North American sales.
Sales of Chrysler vehicles have been hammered by the credit crunch. Chrysler Financial has been unable to offer loans to many customers. Chrysler sales fell 53 percent in December to 89,813 compared with 191,423 in December 2007.
Chrysler announced today it was offering discounts of as much as $3,000 on select 2009 models and up to $6,000 on 2008 models.
Last week Chrysler received $4 billion, the first installment in a $7 billion federal bailout package.