Jeep, Ram Send FCA's November Sales 17% Higher

Cars and Drivers

Published: December 3, 2018 11:20 am

Last Updated: January 11, 2020 2:13 pm

Fiat Chrysler Automobiles N.V. (NYSE: FCAU) reported Monday that November sales increased by 17% year over year to 187,310 vehicles, compared with November 2017 sales of 154,919. The Jeep brand posted a sales increase of 12% year over year as sales of the new Cherokee rose 23% to 20,296 units and Compass sales jumped 25% to 11,665 units.

The Ram brand of pickups and other light trucks saw a sales jump of 44% to 57,970 units. For the first 11 months of the year, Ram has sold 529,173 units, up 4% compared to 2017 sales for the same period.

Analysts at Cox Automotive had projected November sales at 180,000 units, a 16.2% year-over-year increase. Kelley Blue Book estimated an average selling price of $39,280 for November, up 4.7% year over year and up 0.6% month over month.

Retail sales totaled 136,704 vehicles, up 6% year over year and the highest November total since 2001, and fleet sales accounted for 24.6% of overall sales, down slightly from 25% in October.

Ram’s light-duty 1500 model drove truck sales, with a 59% increase in retail sales, and Ram trucks combined for a total sales increase of 44% to 57,970 units, a new record for November.

Chrysler brand sales fell 21% year over year to 13,094 units, and Fiat brand sales tumbled 24% to just 1,309. For the first 11 months of the year, Chrysler sales are down 10% and Fiat sales have plunged 41%.

Alfa Romeo brand sales rose 36% in November to 1,957 vehicles. Stelvio accounted for the majority of those sales, with 1,034 vehicles sold. Alfa sales are up 119% for the first 11 months of the year to 21,874.

Dodge brand sales jumped 15% to 33,196 units in November. Sales of the Journey rose 16% and Challenger sales rose 30%. Caravan sales totaled 10,188 units in the month and are up 20% for the year to date.

FCA’s shares traded up about 3.3% Monday morning, at $117.14 in a 52-week range of $14.97 to $24.95. The 12-month consensus price target on the stock is $25.38.

ALSO READ: Jefferies Top Growth Stock Picks Could Be Huge Year-End Winners

Cash Back Credit Cards Have Never Been This Good

Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.