UPDATE 1-Chrysler financial arm to stop leasing vehicles

Newswire

(Adds detail, background, byline) By Poornima Gupta DETROIT, July 25 (Reuters) - Chrysler LLC's financial arm on Friday said it would stop offering vehicle leases to U.S. consumers, a sharp break in strategy in response to plunging resale prices for gas-guzzling trucks and tighter credit. "We are shifting our strategy to focus on retail products," said spokesman Bill Porter. "Effective August 1 we will no longer offer lease products in the United States." Porter said the move by the ...

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