Year over year, sales dropped 7% at Fiat Chrysler Automobiles N.V. (NYSE: FCAU) in June to 187,348 units. The Jeep brand posted a sales drop of 11% year over year as the Jeep Patriot showed a year-over-year sales decline of 55% and the Cherokee posted a sales drop of 27%. Grand Cherokee sales rose 21% and Renegade sales increased by 2%.
Analysts at Kelley Blue Book (KBB) had projected June sales at 187,000 units, a 7.6% year-over-year decrease. KBB also estimated an average selling price of $36,971 for June, up 5.6% year over year and down 0.6% month over month.
The company’s Jeep brand sold a total of 73,153 units in June. The Jeep Wrangler sold 18,839 units in the month, while Grand Cherokee sales rose to 20,176 units.
Ram pickup sales increased 5% in June to 43,073 units. Last year, Ram sold 41,089 pickups in June.
Year over year, sales of the company’s Chrysler brand dropped 15% as sales of the Chrysler 200 fell 76% year over year in May to 1,945. FCA continues to try to sell all dealer inventory on this discontinued model. Sales of the Chrysler 300 rose 47% to 5,355 units. The all-new Pacifica minivan posted June sales of 12,399 (up 59% year over year) and has sold nearly 60,000 units since the beginning of the year.
The company’s Dodge brand sales fell 14% year over year in June, as sales of the Dodge Caravan rose 9% to 16.210 units in the month. The company’s Journey compact sport utility vehicle saw sales decline by 51% year over year to 6,073 units sold in June.
Retail sales fell 5% year over year in June and represented 75% of all unit sales. Alfa Romeo sales rose to 1,017 in June, up 2725% year over year as sales of the new Giulia have taken off.
Chrysler’s shares traded up about 4.4% Monday morning, at $11.09 in a 52-week range of $5.45 to $11.65. The consensus price target on the stock is $11.06, according to MarketWatch.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
