Automaker Chrysler Group LLC reported Tuesday a 20 percent increase in total U.S. sales for the month of June, marking the 27th-consecutive month of year-over-year sales gains, reflecting sales growth across its brands. The month also recorded the best June sales since 2007.
The other two of Detroit's big three, Ford Motor Co. (F: Quote) and General Motors Corp. (GM: Quote) are scheduled to come out with their sales for June later in the day.
Chrysler, which was once part of German automotive company Daimler AG, emerged from Chapter 11 reorganization in June 2009 and was bought by Italian automaker Fiat S.p.A. (FIATY.PK) in a U.S. government-brokered deal. Earlier in the day, Fiat raised its stake in Chrysler to 61.9 percent from 58.5 percent by exercising call option.
"June was another solid month for the Chrysler Group with U.S. sales up 20 percent and second-quarter sales increasing 24 percent compared with the same period in 2011. June also marked our 27th-consecutive month of year-over-year sales growth. Continuous improvement remains a key focus at Chrysler as we have steadily increased sales, improved quality, added production and created jobs," said Reid Bigland, President and CEO - Dodge Brand and Head of U.S. Sales.
The Auburn Hills, Michigan-based company reported total U.S. sales of 144,811 units, up 20 percent from 120,394 units in sold in June 2011. However, sales declined 3.5 percent from the previous month of May 2012.
The company attributed the sales growth to a strong triple-digit sales growth of the Fiat brand vehicles in June.
The company also said second-quarter sales were up 24 percent from the same quarter last year.
Total car sales for the month of June surged 42 percent to 44,988 units, and total truck sales rose 12 percent to 99,823 units from the same period last year.
The Fiat brand of vehicles led the sales increase with a 122 percent growth, followed by Chrysler brand with 63 percent increase, Ram Truck brand with a 42 percent growth, Jeep brand with 23 percent rise and the Dodge brand with a 2 percent growth.
Chrysler Group finished the month of June with a 67-days supply of inventory at 358,260 units. The company also estimated the U.S. industry sales figures for June at a seasonally adjusted annualized rate (SAAR) of 14.4 million.
The company also revealed that the all-new 2013 Dodge Dart compact car has started to arrive in dealership showrooms across the country, with the first sales of the highly-anticipated Dart already included in the June sales of Chrysler brand.
 | | 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