MADISON (WKOW) -- It's a buyer's market for people who may be looking to purchase a new Chrysler.
The Detroit automaker is dropping 800 dealerships, including three in Madison.
The affected dealers across the country have a combined 44,000 cars on the lot. They have just a few weeks to sell them and Dave Champion of Consumer Reports says buyers have "got some very good negotiating power."
Champion says dealers are eager to shift inventory that's "stacking up all around them."
But, Chrysler is arranging homes for its unsold cars. Dealers that Chrysler plans to keep will get loans so they can take on some of the unsold inventory.
Still, one analyst expects remaining dealerships will be reluctant to take on more cars, meaning those who are shutting down may sell them at a loss.
GM, meanwhile, is planning to lose 1,100 dealerships itself. But, the company isn't seeking bankruptcy protection, meaning dealers have more leeway.
In Madison, Russ Darrow Chrysler-Jeep on Odana Road, Don Miller Dodge on East Washington, and the Don Miller Chrysler-Jeep on Wayne Terrace will lose their sales and service agreements with Chrysler as of June 9.
Russ Darrow told 27 News they are working on a deal to keep Chrysler here in madison.