Chrysler July Unit Sales Up 20%, Misses Estimate By 3 Points
Chrysler Group LLC posted a 20 percent increase in July sales and its best showing for the month since 2005 -- but three points below Wall Street's estimate.
The performance extends Chrysler's streak of year-over-year sales gains to 52 consecutive months in July.
The Chrysler, Jeep, Dodge, Ram Truck and FIAT brands each posted year-over-year sales gains while the company's total U.S. sales rose to 167,667 from 140,102 units a year earlier.
The Jeep brand's 41 percent increase was the largest sales gain of any Chrysler Group brand during July and its best ever July sales.
“Chrysler Group had a solid July as each brand recorded sales gains on our way to a 20 percent year-over-year increase, our strongest July sales in nine years,” head of U.S. sales Reid Bigland said.
Ram Truck brand sales, which include the Ram ProMaster van and Ram Cargo Van, were up 18 percent in July, the brand's best July sales since 2006.
Chrysler brand sales were up 17 percent in July compared with the same month a year ago, driven by strong sales of the Chrysler Town & Country minivan and the all-new 2015 Chrysler 200 mid-size sedan.
Dodge brand sales were up three percent in July, including sales of the Dodge Dart, which grew 23 percent, the compact car's best ever sales in the month of July.
FIAT brand sales were up one percent, including a 49 percent increase in sales of the Fiat 500L.
The Fiat 500L's 49 percent increase was the largest year-over-year sales gain of any Chrysler Group vehicle in July, while Ram pickup truck sales were up 14 percent compared with the same month a year ago. The Jeep and Ram Truck brands logged the largest percentage sales gains of any Chrysler Group brands during the month.
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