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Fiat Chrysler Falls On February Sales Data

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Fiat Chrysler Automobiles NV (NYSE: FCAU) shares fell more than 2 percent after the automaker posted lower-than-expected February sales.

Fiat Chrysler changed hands recently at $15.45, down 2.5 percent.

Fiat Chrysler, formed last year in the merger of the two namesake automakers, said U.S. sales last month grew 6 percent to 163,586 units and constituted its best February since 2007.

Wall Street had expected the company's U.S. sales would increase by 8.9 percent.

The Jeep brand's 21 percent increase was the largest sales gain of any of the company's U.S. brands during the month and its best February sales ever.

Sales of the company's Dodge brand declined by 15 percent.

"In spite of snow and bitter cold that slowed auto sales in many regions of the country, FCA US still turned in a 6 percent sales increase," Reid Bigland, head of the company's U.S. Sales said.

Separately, Nissan Motor Co Ltd. (OTC: NSANY) Nissan said February U.S. sales grew 2.7 percent, versus Wall Street's expectation for sales growth of 3.8 percent.

 

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Posted-In: auto salesNews Retail Sales

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