Jeep Leads The Way For Chrysler's Best May In 7 Years

Auto stocks are trending higher Tuesday morning after Chrysler FIATY announced better-than-expected sales results.

Chrysler’s sales are up 17 percent year-over-year for the month of May (194,421 units); this is the strongest May the firm has seen since 2007. Chrysler has seen 50 straight months of sales growth.

Jeep sales led the way for the automaker with an all-time record of sales - more than 70,000 Jeep brand sales units were sold. Fifty-eight percent more were sold this year versus the same period last year.

Head of U.S. Sales, Reid Bigland commented, “Our Jeep sport-utility vehicles and Ram pickups continued to do well in May as our dealers reported brisk May sales over five weekends and the Memorial Day holiday.”

Other highlights include FIAT brand sales rising 18 percent, marking the best May ever for the brand, and Ram sales up 17 percent, its best May since 2005.

Investors are waiting for results from the other two big three components, Ford and General Motors, at 10 a.m. EDT.