New Jersey - Chrysler told a Bankruptcy Court today that it will break its contracts with 789 dealerships nationwide. New Jersey will be hurt in the restructuring plan. The Company will close 30 car dealerships in New Jersey by June 9.
New Jersey could stay empty for at least two or three years, according to real estate brokerages — but possibly longer, given the commercial real estate market's growing distress.
With GM and Chrysler no longer making the cars consumers want to buy, they are scaling back their dealer networks. Some think over 3,500 dealers will be cut off - and most will go out of business.
Chrysler has received $4 billion in federal loans and has been operating in bankruptcy protection since April 30. Its sales this year are down 46 percent compared with the first four months of last year and it reported a $16.8 billion net loss for 2008.
New Jersey Auto Dealerships are among those proposed to be eliminated by the company. They include:
23 DODGE located in BUTLER, New Jersey
BELLE MEAD GARAGE INC located in BELLE MEAD, New Jersey
BERLIN CHRYSLER INC located in BERLIN, New Jersey
BURKE BROTHERS INC located in CAPE MAY COURT HOUSE, New Jersey
CLAYTON AMERMAN INC located in PEAPACK, New Jersey
COLEMAN JEEP located in TRENTON, New Jersey
COLEMAN CHRY-JEEP INC located in HIGHTSTOWN, New Jersey
COMPASS DODGE INC located in ORANGE, New Jersey
CAUSEWAY JEEP located in MANAHAWKIN, New Jersey
GRAND DODGE OF ENGLEWOOD located in ENGLEWOOD, New Jersey
DOWNER MOTOR CO INC located in ELMER, New Jersey
ELM AUTO SALES INC located in KEARNY, New Jersey
CHERRY HILL JEEP located in CHERRY HILL, New Jersey
HAMILTON CHRYSLER INC located in HAMILTON SQUARE, New Jersey
JEEP-EAGLE 17 INCORPORATED located in PARAMUS, New Jersey
WESTWOOD CHRYSLER JEEP located in WESTWOOD, New Jersey
LAFLAM CHRYSLER INC located in RUNNEMEDE, New Jersey
LENIHAN JEEP, INC. located in MARLTON, New Jersey
LICCARDI CHRYSLER DODGE located in GREEN BROOK, New Jersey
LOMAN CHRYSLER JEEP located in PARSIPPANY, New Jersey
MALL CHRYSLER INC located in MAPLE SHADE, New Jersey
SCHWARTZ CHRYSLER located in SHREWSBURY, New Jersey
MAURO MOTORS INC located in WOODBRIDGE, New Jersey
SANSONE PLAZA DODGE INC located in NEPTUNE, New Jersey
STADIUM AUTO MALL SALES, INC. located in RUTHERFORD, New Jersey
TENAFLY CHRYSLER JEEP INC located in TENAFLY, New Jersey
WALSH DODGE INC located in JERSEY CITY, New Jersey
WAYNE DODGE INC located in WAYNE, New Jersey
WEST END GARAGE INC located in RAHWAY, New Jersey
WYCKOFF CHRYSLER INC located in WYCKOFF, New Jersey
(The AP contributed to this)
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