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Chrysler is asking for an additional $3 billion in immediate federal loans. The company had initially asked for a total of $7 billion to help it get though a severe liquidity crisis, but settled for the $4 billion authorized by the outgoing Bush administration. Now the Aubrun Hills-based automaker hopes to be able to obtain the balance of its original request.
Speaking on Sunday, Chrysler Vice Chairman and President Jim Press said, “We are making good progress to qualify for a total of $7 billion, which puts us in a really good financial position.”
Chrysler Financial is also in its own discussions with Treasury officials hoping to get federal assistance and is hopeful something can be achieved by the end of this week.
General Motors, which received $13.4 billion in federal loans, says it will not be looking for additional funds in the near future and Ford has withdrawn its request for a $9 billion line of credit.
Speaking on Sunday, Chrysler Vice Chairman and President Jim Press said, “We are making good progress to qualify for a total of $7 billion, which puts us in a really good financial position.”
Chrysler Financial is also in its own discussions with Treasury officials hoping to get federal assistance and is hopeful something can be achieved by the end of this week.
General Motors, which received $13.4 billion in federal loans, says it will not be looking for additional funds in the near future and Ford has withdrawn its request for a $9 billion line of credit.
