Cars and Drivers

Chrysler Sales Up 2%; Company Recalls 207,000 Jeep Cherokees

Jeep Compass 2014
Source: Fiat Chrysler Automobiles NV
Year over year, sales rose 2% at Fiat Chrysler Automobiles N.V. (NYSE: FCAU) in August to 201,672 units, the company’s best August sales level since 2002. The Jeep brand posted a sales gain of 18% year over year for the brand’s best-ever monthly total. The Jeep Compass posted a sales gain of 58%, the all-new Renegade posted a month-over-month sales gain of 29% and Jeep Patriot sales rose 21%.

Analysts at Kelley Blue Book (KBB) had projected August sales at 192,000. KBB analysts also reported that Chrysler’s average transaction price last month was $34,703, up 1.1% compared with the average price in July and up 3% year over year for the month.

On Monday, Chrysler said it is recalling 206,668 four-door Jeep Cherokees built between in 2014 for a defect that could cause the windshield wipers unexpectedly to stop working. Static buildup could occur if the wipers are used on a dry windshield and the buildup could affect the module that controls the wipers. The company said it is not aware of any accidents or injuries related to the defect.

The company���s Jeep brand sold 80,804 units in August. Jeep has now set a sales record for 23 consecutive months. The Jeep Renegade had sales of 8,156 units in its fifth month of availability.

ALSO READ: Autoworkers Union Passes Strike Authorization Measure

Ram pickup sales rose 6% in August to 45,310 units, after posting a 1% year-over-year sales increase in July. Last year, Ram sold 43,775 pickups in August. For the year to date, Ram pickup sales are up 4% to 294,045 units and total brand sales are up 7% to 318,542 units. Ram pickups had their best-ever August sales this year.

Year over year, sales of the company’s Chrysler brand are up 14%, as sales of the new Chrysler 200 rose 30% in August to 14,032 units on top of an 85% year-over-year gain in July. Year to date, Chrysler 200 sales are up 112%.

The company’s Dodge brand sales were down 15% year over year in August and are now down 16% for the year to date. The bright spot for the brand came in sales of its Challenger, up 25% to 5,235 units. Sales of the venerable Caravan dropped 18% in August and are down 42% for the year.

Chrysler projected a seasonally adjusted annual rate of sales in the United States from all manufacturers at 17.8 million units for 2015, identical with last month’s projection. The company ended the month with 74 days supply of inventory, down from 82 days at the end of July.

Chrysler’s shares traded lower by about 3.1% in Tuesday’s premarket session, at $13.69, after closed at $14.13 on Monday. The current 52-week range is $8.54 to $17.08.

ALSO READ: America’s Best and Worst Car Brands

Sponsored: Want to Retire Early? Here’s a Great First Step

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.