Cars and Drivers
Jeep Sales Down 2% in November, FCA Sales Slip 4% Overall
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Year over year, sales dropped 4% at Fiat Chrysler Automobiles N.V. (NYSE: FCAU) in November to 154,919 units. The Jeep brand posted a sales drop of 2% year over year as the Jeep Patriot showed a sales decline of 96% and the Renegade posted a sales drop of 23%. Grand Cherokee sales rose 8%, Cherokee sales rose 44% and Compass sales increased by 34%.
Analysts at Kelley Blue Book (KBB) had projected November sales at 152,000 units, a 5.5% year-over-year decrease. KBB also estimated an average selling price of $37,790 for November, up 3.5% year over year and down 0.6% month over month.
FCA continues to implement a strategy of reducing sales to daily rental car companies. November fleet sales were down 25% year over year.
The company’s Jeep brand sold a total of 66,001 units in November. The Jeep Wrangler sold 13,289 units in the month while Grand Cherokee sales rose to 18,614 units.
Ram pickup sales decreased 5% in November to 40,390 units. Last year, Ram sold 42,511 pickups in the month.
Sales of the company’s Chrysler brand jumped 14% as sales of the Chrysler 200 fell 87% year-over-year in November to 359. FCA continues to try to sell all dealer inventory on this discontinued model. Sales of the Chrysler 300 rose 15% to 2,951 units. The new Pacifica minivan posted November sales of 13,195 (up 51% year over year) and has sold more than 107,000 units since the beginning of the year.
The company’s Dodge brand sales fell 15% year over year in November, as sales of the Dodge Caravan rose 28% to 8,550 units in the month. The company’s Journey compact SUV saw sales drop by 32% year over year to 4,868 units sold in November.
Retail sales rose 2% year over year in November and represented 84% of all unit sales. Alfa Romeo sales rose to 6,161% in November, as sales of the new Giulia pushed the total to 1,440 for the month and 9,997 for the year to date.
FCA’s shares traded down about 0.1% Friday morning, at $17.09 in a 52-week range of $7.58 to $18.33. The consensus price target on the stock is $21.58.
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