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Chrysler Group sales up 12% from last year in best growth since 2007 Chrysler Group sales up 12% from last year in best growth since 2007
(14 days later)
Chrysler Group reported its best August in six years Wednesday as truck sales drove the motor firm's sales 12% higher than last year.Chrysler Group reported its best August in six years Wednesday as truck sales drove the motor firm's sales 12% higher than last year.
Chrysler sold 165,552 units in August compared to 148,472 units in the same month last year. The company reported particularly strong sales for its Dodge and Ram truck brands as well as Jeep and Fiat. The sales figure was the group's best August since 2007. The company has now increased sales year-over-year for 41 consecutive months.Chrysler sold 165,552 units in August compared to 148,472 units in the same month last year. The company reported particularly strong sales for its Dodge and Ram truck brands as well as Jeep and Fiat. The sales figure was the group's best August since 2007. The company has now increased sales year-over-year for 41 consecutive months.
Ram Truck's sales increased 29%, the largest sales gain of any Chrysler Group brand during the month. Rising truck sales have traditionally been seen as an indication of economic recovery as fleet buyers make new orders and construction picks up.Ram Truck's sales increased 29%, the largest sales gain of any Chrysler Group brand during the month. Rising truck sales have traditionally been seen as an indication of economic recovery as fleet buyers make new orders and construction picks up.
Sales of the Ram pickup truck were up 31% in August, its 40th-consecutive month of year-over-year sales gains. Sales of light-duty Ram pickups were up 34% in August and heavy-duty Ram sales increased 26%.Sales of the Ram pickup truck were up 31% in August, its 40th-consecutive month of year-over-year sales gains. Sales of light-duty Ram pickups were up 34% in August and heavy-duty Ram sales increased 26%.
"Last month we achieved our strongest retail sales in the past 60 months," said Reid Bigland, head of US sales. "All aspects of our business continue to improve.""Last month we achieved our strongest retail sales in the past 60 months," said Reid Bigland, head of US sales. "All aspects of our business continue to improve."
Chrysler reported a 16% jump in second-quarter profits in July, driven by rising demand for pickups and sports utility vehicles (SUVs).Chrysler reported a 16% jump in second-quarter profits in July, driven by rising demand for pickups and sports utility vehicles (SUVs).
The company was close to closure in 2009 when it entered bankruptcy and had to be bailed out by the US government. It is now owned by Italy's Fiat, which bought out the government's stake in the firm in 2011.The company was close to closure in 2009 when it entered bankruptcy and had to be bailed out by the US government. It is now owned by Italy's Fiat, which bought out the government's stake in the firm in 2011.
Edmunds.com senior analyst Michelle Krebs said Chrysler's figures had beaten Edmund's 9% forecast and boded well for other car manufacturers. "That indicates either the Labor Day close was very strong or Chrysler plugged some extra fleet sales into August," she said. "If Chrysler's better-than-expected August performance is due to a strong Labor Day close, we likely will see other automakers beating forecasts as well."Edmunds.com senior analyst Michelle Krebs said Chrysler's figures had beaten Edmund's 9% forecast and boded well for other car manufacturers. "That indicates either the Labor Day close was very strong or Chrysler plugged some extra fleet sales into August," she said. "If Chrysler's better-than-expected August performance is due to a strong Labor Day close, we likely will see other automakers beating forecasts as well."
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