Fiat Chrysler Remains A Standout Among Automakers: Monthly Auto Sales Stay Positive

Fiat Chrysler Automobiles NV

bucked the trend witnessed by the two American automakers and reported 0.3 percent growth in sales to 180,727 vehicles in July. Both Ford Motor Company

and General Motors Company

suffered a YOY drop in overall sales in July. However, Fiat Chrysler's retail sales witnessed a two percent drop to 155,885 units in the United States. On the other hand, fleet sales grew 22 percent to 24,842 vehicles in July. The company indicated that both the Jeep and Ram Truck brands grew 5 percent in July. The automaker added that Jeep Renegade, Jeep Grand Cherokee, Jeep Compass, and Jeep Patriot recorded sales gains in July. Similarly, its Ram pickup truck and the Ram ProMaster and Ram ProMaster City vans also witnessed gains. Two Dodge brand models, i.e. the Dodge Grand Caravan and the Dodge Challenger, also recorded YOY sales gains while Fiat 500X sales were up compared to the year-ago month. However, investors preferred to book profits in the FCAU shares thus dragging down the stock by $0.28 or 4.34 percent at $6.05. Shares of the company are also trading below the 20-day, 50-day and 200-day moving averages by 6.5 percent, 8.97 percent and 33.20 percent respectively. On a YTD basis, the stock shed nearly 60 percent though consensus price target is $9.29.