Cars and Drivers
Jeep Sales Rise 14% in May Leading Chrysler to 1% Increase
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Year over year, sales rose 1% at Fiat Chrysler Automobiles N.V. (NYSE: FCAU) in May to 204,452 units, the company’s best May sales level in 11 years. The Jeep brand posted a sales gain of 14% year over year, its best May sales ever. The Jeep Compass posted a sales gain of 116%, the Renegade posted a monthly sales gain of 146% and Grand Cherokee sales rose 4%. The venerable Jeep Cherokee saw sales decline by 2% year over year in May.
Analysts at Kelley Blue Book (KBB) had projected May sales at 198,000 units, down 2.1% year over year. Edmunds.com analysts estimated that the company would sell 202,198 units last month. KBB had estimated an average selling price of $35,129 for May, up 0.1% year over year and 4.2% month over month.
The company’s Jeep brand sold 90,545 units in May. Jeep has now set a sales record for 32 consecutive months. The all-new Jeep Renegade sold 10,868 units in May and has moved a total of 79,652 units in the first five months of the year.
Ram pickup sales slipped 3% in May to 38,833 units, after posting a sales gain of 8% year over year in April. Last year, Ram sold 39,952 pickups in May. Ram pickups posted their best May sales since 2005.
Year over year, sales of the company’s Chrysler brand fell 19% as sales of the Chrysler 200 tumbled 62% year over year in May to 7,600. Sales of the Chrysler 300 rose 38% to 5,598 units, the model’s best May sales level in four years. The all-new Pacifica minivan posted sales of 2,495, up from a total of April’s 495 units sold. April was the first month of the vehicle’s availability.
The company’s Dodge brand sales fell 5% year over year in May, but sales of the Dodge Caravan rose 76% to 11,135 units in the month.
Chrysler did not publish an estimate for the industry’s seasonally adjusted annual rate (SAAR), nor did it publish its days of inventory on hand.
Chrysler’s shares traded down about 2% Wednesday morning, having closed at $7.17 on Tuesday, in a 52-week range of $5.78 to $10.93.
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