Automakers Form Joint Venture For Finance Services

Compiled ByJill Jusko DaimlerChrysler Services North America, Ford Credit and GMAC will work together to create a common tool for auto dealers to manage their credit-application process. The joint-venture participants say they will launch a new company to create an Internet-based credit application system for dealers to submit information to the multiple finance sources they do business with. A launch date for the new system has not been announced. The new company will be located in Southfield, Mich. Thirty participants from all three companies currently are involved in the new project.