UPDATE 2-Chrysler financial arm to stop leasing vehicles

Newswire

(Adds detail on incentives, dealer quote) By Poornima Gupta and David Bailey DETROIT, July 25 (Reuters) - Chrysler LLC said its financing arm would stop offering vehicle leases to U.S. consumers, a sharp break in strategy in response to tighter credit and the plunging resale prices for gas-guzzling trucks. The abrupt announcement on Friday afternoon was the latest sign of the stress on Chrysler from an industry downturn that has hit all automakers. Earlier this week, Chrysler said it ...

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