IMPEACH BUSH

SAN FRANCISCO (MarketWatch) -- Two Detroit automotive powerhouses made moves in attempt to stanch their bleeding Friday as gas-guzzling trucks and SUVs continue to sit idly on U.S. car lots.

Chrysler LLC's financial arm, Chrysler Financial, will stop offering vehicle lease options in the U.S. in order to focus more on financing vehicle purchases, according to multiple media reports Friday. Leases will no longer be an option Aug. 1. The automaker is expected to brief dealers in a conference call late Friday.

General Motors  also said Friday that it will allow its employees to offer an employee pricing discount to any one person of their choice through the end of July. An employee discount can slash thousands of dollars off the retail price of a vehicle.

News also surfaced Friday that Chrysler will offer zero percent financing for up to 72 months on some larger vehicles, such as the Jeep Grand Cherokee and Commander and Dodge Aspen.

Automakers and their financing units have been slammed with increasing losses stemming from leases as a result of falling resale values of trucks, SUVs and other less fuel-efficient models as consumers turn to smaller cars as gasoline sits atop $4-a-gallon levels, The Wall Street Journal reported.

The moves come during an ongoing crisis for the Big Three automakers in Detroit. On Thursday, Ford Motor Co. said its losses hit $8.7 billion, and it announced an aggressive makeover that includes ramping up production of hybrid vehicles and bringing its European gas-savers to North America.

Chrysler's latest sales figures showed a 36% decline in June, with car sales slumping 49% and truck sales down 30%. In the same time period, GM's car sales declined 21.1% while truck sales slid 16%. Both automakers have recently cut plants and jobs, and GM's Hummer brand is currently for sale.

On Wednesday, consumer research firm J.D. Power and Associates slashed its outlook for 2008 vehicle sales by 5%, citing the U.S. credit crisis, gas prices and reduced rental car business. Shares of GM closed the day down 8.5% to $11.90, and Ford's shares closed down 1.2% to $5.05.

Nathan Becker is a MarketWatch reporter based in San Francisco.