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03:04 BST, August 4, 2014
HSBC H1 profit fell 12 percent
05:23 BST, August 4, 2014Chrysler US sales increased by 20% year-on-year to 167,667 units compared to 140,102 in July last year, the company announced, adding that it was the best July in nine years.
The Michigan-based carmaker said that in July it recorded its 52nd successive year-on-year gain.
The Chrysler, FIAT, Ram Truck and Dodge brands all posted gains in July compared to July 2013. The Jeep brand posted its best ever July with a 41% rise.
Reid Bigland, Head of Chrysler U.S. Sales, said:
“Chrysler Group had a solid July as each brand recorded sales gains on our way to a 20 percent year-over-year increase, our strongest July sales in nine years.”
“Sales of the all-new Chrysler 200 mid-size sedan continued to increase while our Jeep and Ram Truck brands each turned in double-digit sales gains, helping to lead Chrysler Group to its 52nd-consecutive month of year-over-year sales growth.”
Several brands recorded a record July
The following Chrysler vehicles posted record sales in July:
- Ram Cargo Van,
- Dodge Journey,
- Dodge Challenger,
- Dodge Dart,
- Jeep Compass,
- Jeep Wrangler.
Among all the Chrysler Group vehicles, the Fiat 500L recorded the largest increase (49%).
The company ended July with an inventory of 504,240 units, i.e. 78 days’ supply.
Trucks outselling cars
Chrysler, like the other US carmakers, sells more light trucks than cars. Light truck sales increased by 27% in July compared to July last year, while car sales declined 1%.
Car sales have fallen 20% year-to-date while light truck sales have increased by 30% over the same period.
Total sales for the first half of 2014 rose 13% compared to H1 2013.
(Data source: Chrysler)
Shareholders approve FIAT merger
On Friday, FIAT shareholders voted in favor of merging with Chrysler. The Italian carmaker says it will move its center of gravity overseas.
The shareholder vote paves the way for the formation of Fiat Chrysler Automobiles NV, which will be listed in the US probably in October.
Legally, the company will be based in the Netherlands and have its fiscal home in the United Kingdom.