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Fiat Chrysler Shares Trade Lower Despite 3% August Sales Increase

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Fiat Chrysler Shares Trade Lower Despite 3% August Sales Increase

Fiat Chrysler Automobiles NV (NYSE: FCAU) bucked the overall trend to report 3 percent growth in unit sales to 196,756 in the United States in August. However, the stock traded down on Thursday.

The company disclosed retail sales total 150,153 vehicles, whereas fleet sales accounted for 46,603 vehicles. While the Jeep and Dodge brands advanced 12 percent and 5 percent respectively, the Chrysler brand recorded 22 percent drop in unit sales for the month.

Related Link: Honda Vehicle Sales Dipped 3.8% In August, But American Trucks Set An August Record

Similarly, RAM brand gained two percent while ALFA brand sales plunged 62 percent and Fiat brand dipped 21 percent.

Fiat Chrysler's August sales were marked by five Jeep brand driven by 41 percent jump in Jeep Cherokee sales. In the same way, six Dodge brand witnessed year-over-year sales growth.

On Thursday, the stock shed $0.12, or 1.74 percent, to $6.76 at time of writing.

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Posted-In: ALFA Autos cars ChryslerNews Travel Econ #s General

 

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