MONTEBELLO, Calif., May 8, 2008 (PRIME NEWSWIRE) -- Adding leather seating to a vehicle certainly increases that vehicle's value. That's why many automotive leasing companies assign a residual value to leather, making it easier to take the hit of the cost of this added feature in the monthly payment. But no auto manufacturer has ever singled out a specific brand of leather - until now.
Effective immediately, new car leases written by Chrysler Financial allow a residual value for installed leather seating on all Chryslers, Dodges and Jeeps, but only if those interiors come from Katzkin Leather, Inc. and are sold through MOPAR Accessories. The news was announced this morning by Chrysler to its entire Chrysler, Dodge and Jeep dealer body via Dealer Connect.
"This is an amazing achievement and one that we've been working very hard toward over the past few years," said Katzkin's Vice President of OEM Sales, Kirk Scott. "Residual value from a lender such as Chrysler Financial is a tremendous validation of the value of, specifically, Katzkin leather," he went on to say.
Katzkin is no stranger to Chrysler or to MOPAR. In 2003, then DaimlerChrysler and Katzkin joined forces in a groundbreaking partnership that offered Katzkin's custom leather, by name, through MOPAR's own parts order system at dealerships across the country. In 2006, Katzkin achieved Accessory status from MOPAR, which meant that after extensive safety testing, Chrysler backed Katzkin's products with their own warranty.
The relationship between Katzkin and Chrysler hasn't gone unnoticed in Detroit. Earlier this year, Ford Motor Company launched its own program with Katzkin, and now Ford dealers throughout North America order their leather interiors exclusively from Katzkin. Scott believes, "It won't be long before Ford's Red Carpet Leases offer residual values for Katzkin leather, as well."
Founded in 1983, Katzkin is the industry's leading manufacturer of custom leather interiors, making more than 2500 interior patterns available through a network of over 2000 restylers throughout North America. Katzkin offers more than 100 colors and materials in a variety of two-tones with many customizing options such as piping, perforation, and contrast stitching.
The Katzkin Leather, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3037