Year over year, sales plunged 10% at Fiat Chrysler Automobiles N.V. (NYSE: FCAU) in October to 176,609 units. The Jeep brand posted a sales drop of 7% year over year, as the Jeep Cherokee showed a sales decline of 23% and the Compass and Renegade each posted a monthly sales drop of 9%. Grand Cherokee sales rose 9% and Patriot sales were up 2%.
According to TrueCar, FCA’s incentive spending rose to $4,388 per unit, up 23% year over year and down 1% compared with September 2016. Unit incentive spending totaled $4,404 at Ford and $4,417 at GM, up 30% and 14%, respectively, year over year.
Analysts at WardsAuto had projected October sales at 176,000 units, and Edmunds.com analysts estimated that the company would sell 178,245 units last month, a 10.6% year-over-year decrease. KBB also estimated an average selling price of $36,433 for October, up 0.3% year over year and up 5.7% month over month.
The company’s Jeep brand sold a total of 68,826 units in October and has sold a nine-month total of 775,932, up 10% year over year. The all-new Jeep Renegade has sold 84,494 units for the year to date, up 90% compared with the same period last year.
Ram pickup sales increased 7% in October to 43,891 units, and posted a year-to-date sales increase of 8%. Last year, Ram sold 41,042 pickups in October.
Year over year, sales of the company’s Chrysler brand dived 45%, as sales of the Chrysler 200 fell 69% year over year in October to 2,843. FCA is doing its best to sell all dealer inventory on this discontinued model. Sales of the Chrysler 300 tumbled 29% to 3,051 units. The all-new Pacifica minivan posted October sales of 7,758, and has sold 43,330 since first becoming widely available in April.
The company’s Dodge brand sales fell 16% year over year in October, while sales of the Dodge Caravan dropped 15% to 11,563 units in the month. The company’s Journey compact SUV got a sales boost of 17% year over year to 11,912 units sold in October.
Chrysler’s shares traded up about 0.6% Monday morning, at $7.36 in a 52-week range of $5.45 to $9.72.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.