FCA Launches U.S. Dealer Market Investment Program

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Jul 09, 2018, 12:00 ET

AUBURN HILLS, Mich., July 9, 2018 /PRNewswire/ --

Program aims to identify and develop high-potential candidates to join the dealer network
FCA – through relationships with Chrysler Capital and Ally Financial – provides startup funding

FCA US LLC introduces a new program aimed at identifying, developing and placing dealer candidates as it works to strengthen and enhance its U.S. dealership network.

The Dealer Market Investment Program will cultivate and provide financial support to proven, high-potential individuals who want to operate a Chrysler-Dodge-Jeep-Ram or Alfa Romeo-Maserati dealership but have limited funds. The program seeks to match potential dealers with specific markets where they can succeed.

"This program places the support of FCA behind high-potential dealer candidates and tells them we have their backs as they enter the retail vehicle sales business," said Reid Bigland, Head of U.S. sales.

Candidates apply through a process that requires demonstrated leadership skills, financial acumen and customer satisfaction, as well as a proven track record of exceptional sales performance. Candidates must also participate in FCA's dealer assessment and development program and invest substantial amounts of their own start-up capital.

FCA – through its relationships with Chrysler Capital and Ally Financial – will provide 85 percent of the funds needed to cover a dealership's working capital through low-interest loans while the potential dealer covers the remaining 15 percent.

For the real estate investment, Chrysler Capital and Ally Financial will provide 80 percent of the funding, FCA will provide 15 percent and the potential dealer will cover the remaining 5 percent.

"High-potential candidates, who's mere constraint may be a lack of capital, are given support for their startup costs while using their funding to jump-start operations at the dealership," said Al Gardner, Head of Network Development. "We expect a variety of individuals to use this approach to quicken their impact in the market where they are establishing their dealership."

FCA recently piloted the program at Northland Chrysler-Jeep-Dodge-Ram in metro Detroit.

"This is an area of the market that has tremendous growth potential," said Bashar Cholagh, Senior Manager of Market Representation, Dealer Network Diversity and Technologies. "We worked closely with Eddie Hall III and his partner Ken Thomas to provide them this opportunity through the program. In less than one month, they had the keys to the dealership doors and are now selling our vehicles."

Hall said the Dealer Market Investment Program gave him and Thomas the wherewithal to start making improvements immediately.

"We have already picked out new furniture and have a painter set to come out within the next 30 days," Hall said. "We also now have some reserve capital so we can do a full-scale remodel."

With the deal complete, Northland is now the only African-American owned Chrysler-Jeep-Dodge-Ram dealership in metro Detroit.

"My dad, Eddie Jr., was born and raised in Detroit, I was raised in metro Detroit and Ken was born and raised in Detroit so owning this store, at this time when Detroit is making a comeback, is very important to us," Hall said. "This is really a full-circle moment for us."

Thomas, who first began his automotive industry career working as a technician at Northland more than 33 years ago, said he hopes others will also take advantage of this opportunity.

"This program is exactly what I had been looking for," Thomas said. "I believe that this program will set the standard for what a dealer development program should look like in the future."

About FCA US LLC
FCA US LLC is a North American automaker based in Auburn Hills, Michigan. It designs, manufactures, and sells or distributes vehicles under the Chrysler, Dodge, Jeep®, Ram, FIAT and Alfa Romeo brands, as well as the SRT performance designation. The Company also distributes Mopar and Alfa Romeo parts and accessories. FCA US is building upon the historic foundations of Chrysler Corp., established in 1925 by industry visionary Walter P. Chrysler and Fabbrica Italiana Automobili Torino (F.I.A.T.), founded in Italy in 1899 by pioneering entrepreneurs, including Giovanni Agnelli. FCA US is a member of the Fiat Chrysler Automobiles N.V. (FCA) family of companies. (NYSE: FCAU/ MTA: FCA).

FCA is an international automotive group listed on the New York Stock Exchange under the symbol "FCAU" and on the Mercato Telematico Azionario under the symbol "FCA."

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