Chrysler Puts Brakes on Invest Incentives
CUcorp, the Michigan Credit Union League subsidiary that heads the Invest in America program, announced that incentives on Chrysler vehicles have been temporarily suspended for the month of April.
The suspension is pending fast-track discussions with Chrysler senior management and CUcorp said in a release to Invest in America credit union participants that it is hopeful the program will have no more than a 30-day interruption.
"This is not a reflection of Chrysler's perception of value of the Invest in America program. Rather, it has to do with executive management's management of all incentive programs with direction from the federal government," CUcorp said in the release.
Chrysler re-entered Invest in America with a new incentive program in November 2009 after the auto maker announced it was taking a break from Invest in America to focus on Cash for Clunkers in August 2009.
According to CUcorp credit unions have sold over 103,000 Chrysler, Jeep, Dodge and Ram truck vehicles through the Invest in America program since its inception. The sales have generated over 101,000 loans totaling more than $2 billion.