Chrysler, GM dealers ready to fight for resurrection

NEW YORK (CNNMoney.com) — As Chrysler and General Motors get ready to sit down and talk with owners of some of the nearly 2,000 dealerships given death sentences, dealers are rolling up their sleeves and preparing to fight for their businesses’ lives.

“I was very proud — very proud — of what I sold and what I did for a living,” said Andrew Reixinger, the owner of Barry’s Auto Center in Brockport, N.Y., which sold Chrysler, Dodge and Jeep vehicles. “I would love to have my franchise back.”

Reixinger lives his brand. He took the 30-year-old business over from his father, who spent decades selling Chrysler cars to residents of his rural town. The whole Reixinger family drives Dodge Ram pickup trucks, and Andrew’s red 2007 model features a giant handpainted Ram’s head logo. But in May, Reixinger was one of 789 dealers given termination notices. He had less than a month to wind down the business.

Without a valid dealer license, Reixinger wasn’t allowed to sell his cars to customers any more. He had to unload his vehicles to other dealers, barely breaking even on the transaction. His inventory of parts went for pennies on the dollar. The Chrysler Financial credit line that financed his business vanished.

“Going from having a large floor plan line of credit to nothing changes the game,” he said. Reixinger is financing his entire inventory with his own money: “Right now, I have 47 cars and I own them all.”