Chrysler has stomped on the 10yr warranties that are currently being offered by some automakers by offering an industry first lifetime warranty. The warranty applies to every new car and truck that Chrysler sells (remaining 2007 models and all 2008 models). The warranty which goes in effect today will cover the entire powertrain including the engine, transmission/ transaxle, drive shafts and axles.
As long as the owner brings in their car at least once every five years for a free powertrain inspection the warranty will remain in effect. The only issue is that the warranty only applies to the original owner and is not transferable. If the car is sold within the first three years of ownership, the warranty will revert to the previous 3 year/ 36,000 mile coverage for the next owners.
The question is: How many people will actually keep their cars this long? With the exception of a few vehicles in their lineup (Jeep Wrangler) I doubt most people will hold onto their new vehicles long enough to take advantage of this. It also sucks that it won’t help with resale values, since its not transferable. But I guess this is good news, right?
PRESS RELEASE
Chrysler Introduces New ‘Best-in-Industry’ Lifetime Powertrain Warranty
on Chrysler, Jeep® and Dodge Vehicles
* The New Chrysler Lifetime Powertrain Warranty – the first from an OEM and the longest in the industry – is a statement of confidence in the reliability of Chrysler products
* Warranty covers the cost of all parts and labor needed to repair covered powertrain components – engine, transmission and drive system
* Provides worry-free ownership for new Chrysler, Jeep® and Dodge owners
Auburn Hills, Mich., Jul 26, 2007 – Chrysler today announced that the Company would extend its powertrain warranty from the 3-year/36,000-mile Basic Limited Warranty to a new Lifetime Powertrain Warranty. The new Chrysler Lifetime Powertrain Warranty applies to most new Chrysler, Jeep® and Dodge vehicles purchased from dealer inventory and delivered on or after July 26, 2007.
The Lifetime Powertrain Warranty covers the cost of all parts and labor needed to repair covered powertrain components – engine, transmission and drive system. The new powertrain warranty is limited to the first registered owner or retail lessee. Customers should contact dealers for details on vehicle selection.
“This new Chrysler Lifetime Powertrain Warranty is a statement of confidence to our customers to the reliability of their powertrain. It’s peace-of-mind reassurance for as long as they own the vehicle,” said Steven Landry, Executive Vice President – North America, Sales and Marketing, Service and Parts, Chrysler Group.
To continue warranty coverage, the owner must have a powertrain inspection performed by an authorized Chrysler, Jeep or Dodge dealer once every 5 years. This inspection will be performed at no charge. The inspection must be made within 60 days of each 5-year anniversary of the warranty start date of the vehicle.
Landry added, “The new Chrysler Lifetime Powertrain Warranty underscores our focus on quality and customer satisfaction. It demonstrates our commitment to customers and the confidence we have in our ability to produce quality, reliable and durable vehicles. That’s why we put ‘lifetime’ on it.”
Customers may visit Chrysler.com, Jeep.com and Dodge.com for more information. A warranty promotion – print, radio, television and Internet – begins Friday, July 27.
