Chrysler November Sales Rise 3% on Jeep Strength

Year over year, sales rose 3% at Fiat Chrysler Automobiles N.V. (NYSE: FCAU) in November to 175,974 units, the company’s best November sales level since 2000. The Jeep brand posted a sales gain of 20% year over year. The Jeep Compass posted a sales gain of 19%, the Patriot gained 11%, the Cherokee posted a monthly sales gain of 3% and Wrangler sales rose 2%. All were the best November sales ever. This November had two fewer selling days than November 2014.

Analysts at Kelley Blue Book (KBB) had projected November sales at 171,000. KBB analysts also reported that Chrysler’s average transaction price last month was $34,353, up just 0.1% compared with the average price in October and up 3.8% year over year for the month.

The company’s Jeep brand sold 68,903 units in November. Jeep has now set a sales record for 26 consecutive months. The Jeep Compass sold 4,886 units, up 19% year over year, for the largest monthly percentage gain of any Jeep-branded vehicle.

Ram pickup sales rose 2% in November to 36,407 units, after posting a sales gain of 3% year over year in October. Last year, Ram sold 35865 pickups in November. For the year to date, Ram pickup sales are up 3% to 407,981 units and total brand sales are up 5% to 443,344 units. Ram brands had their best November sales since 2003.

Year over year, sales of the company’s Chrysler brand fell 12% as sales of the new Chrysler 200 tumbled 28% year over year in November to 10,332. Year to date, Chrysler 200 sales are up 67% and sales of Chrysler-branded vehicles are up 8%.

The company’s Dodge brand sales dropped 8% year over year in November and are now down 11% for the year to date. Sales of the Dodge Caravan fell 8% to 8,158 units in November. The Caravan was the best-selling Dodge brand of the month.

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Chrysler projected a seasonally adjusted annual rate (SAAR) of sales in the United States from all manufacturers at 18.4 million units for 2015, down from last month’s projection of 18.5 million. The consensus SAAR estimate calls for unit sales of 18.1 million this year.

Chrysler ended the month with a 90-day supply of inventory, up from 86 days of supply at the end of October.

Chrysler’s shares traded down fractionally mid-morning Tuesday, at $14.23, having closed at $14.25 on Monday. The current 52-week range is $11.08 to $17.08.