Breaking News
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Chrysler March US Sales Up 34% - Update

4/3/2012 3:28 PM ET

Chrysler Group LLC, which is majority owned by Italy-based Fiat SpA (FIATY.PK), Tuesday said its U.S. sales for the month of March rose 34 percent, as easier credit availability, higher fuel prices and improving economy drove sales of its fuel efficient cars.

Chrysler's U.S. sales rose to 163,381 vehicles from 121,730 vehicles in the same month last year. It is for the 24th consecutive month that the company has posted sales increase.

"The combination of credit availability, an improving economy, pent-up demand and even high fuel prices encouraging people to acquire newer more fuel-efficient vehicles are all helping to drive industry sales," said Reid Bigland, President and CEO - Dodge Brand and Head of U.S. Sales.

The growth was driven mainly by strong sales of Fiat 500 - the small fuel-efficient car, Chrysler's 300 flagship sedan and 200 mid-size sedan as well as on Dodge Caravan and Avenger sport sedan.

Sales of Fiat 500, which was launched March last year, advanced to 3,712 from 500 units last year. Chrysler 300 sedan sales rose 169 percent to 7,336 units, while Chrysler 200 sedan improved 121 percent to 14,914 units year-over-year.

Dodge Avenger sales grew 57 percent to 9,362 vehicles, while Dodge Caravan and Journey improved 43 and 44 percent, respectively.

Jeep brand sales for March increased 36 percent to 45,124 units, the best sales growth for the brand since 2007. Sales of all the five vehicles in the segment increased, especially sales of Wrangler and Grand Cherokee, both posting a growth of 43 percent.

Meanwhile, the Ram truck brand also posted an 18 percent sales growth, despite the soaring gas prices. Ram pickup truck sales for March were up 23 percent year-over-year, while the new Cargo Van posted sales of 701 units.

FIATY.PK is currently trading on OTC at $5.73, down 1.88%.

Register
To receive FREE breaking news email alerts for Fiat SpA and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.