I received this email today, following closely on the heels of a similar announcement from General Motors last week: 

"Due to the continued lack of consumer credit for the American car buyer and the resulting dramatic impact it has had on overall industry sales in the United States, Chrysler LLC announced that it will make significant adjustments to the production schedules of its manufacturing operations. In doing so, the Company will keep production and dealer inventory aligned with U.S. market demand. In response, the Company confirmed that all Chrysler manufacturing operations will be idled at the end of the shift Friday, Dec. 19, and impacted employees will not return to work any sooner than Monday, Jan. 19, 2009.

Chrysler dealers confirmed to the Company at a recent meeting at its headquarters, that they have many willing buyers for Chrysler, Jeep, and Dodge vehicles but are unable to close the deals, due to lack of financing. The dealers have stated that they have lost an estimated 20 to 25 percent of their volume because of this credit situation."

It's typical in the auto industry to idle plants during the two-week period around the Christmas holidays, but extending the time for an additional two weeks is another reflection on the current economic downturn. According to an article in the New York Times, Honda has also announced that it will reduce North American production from January through March by 119,000 vehicles.

There's nothing like celebrating the holidays with a little unplanned vacation, eh?