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Tuesday, 19 May 2009 04:27

Oregon auto dealers fight to stay open

The National Automobile Dealers Association estimates that as many as 80 percent of its member dealers -- including Chrysler LLC, General Motors Corp. and Nissan franchises -- have personally guaranteed credit lines, requirements that became more common as the credit crunch took hold last fall.

About 80 percent of Oregon's 200-plus auto dealers also likely are on the hook with personal guarantees, said Greg Remensperger, executive vice president of the Oregon Automobile Dealers Association.

Oregon story

"This is a sad day in the auto industry, but it's not over yet," Remensperger said. "We met with Oregon's seven representatives in Congress and asked them to contact the White House and say dealers are not part of the auto industry problem."

Second Story

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