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Chrysler's financial arm to stop leasing vehicles

The Chrysler logo is seen on the back of a 300C during the Chicago Auto Show in this February 6, 2008 file photo. REUTERS/John Gress

DETROIT (Reuters) - Chrysler LLC’s financial arm is planning to stop offering vehicle lease options to consumers and would focus on financing retail vehicle purchases, spokesman Bill Porter said on Friday.

“We are shifting our strategy to focus on retail products,” he said. “Effective August 1 we will no longer offer lease products in the United States.”

Reporting by Poornima Gupta; editing by Phil Berlowitz

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