Jeep Sales Slide 15% as Fiat Chrysler April Sales Dip 1%
Fiat Chrysler sales dropped 1% year over year in May. Ram pickups, the new Chrysler Pacifica minivan, and stronger Dodge brand sales were among the best performing vehicles last month.
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Year over year, sales dropped 1% at Fiat Chrysler Automobiles N.V. (NYSE: FCAU) in May to 193,040 units. The Jeep brand posted a sales drop of 15% year over year as the Jeep Compass showed a year-over-year sales decline of 43% and the Patriot posted a sales drop of 53%. Grand Cherokee sales rose 14% while Renegade sales decreased by 15%.
Analysts at Kelley Blue Book (KBB) had projected May sales at 187,000 units, a 4% year-over-year decrease. KBB also estimated average selling price of $37,058 for May, up 5% year over year and down 1% month over month.
The company’s Jeep brand sold a total of 75,516 units in May. The Jeep Wrangler sold 19,931 units for the month, while Grand Cherokee sales rose to 20,726 units.
Ram pickup sales increased 16% in May to 44,850 units. Last year, Ram sold 38,569 pickups in May.
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Year over year, sales of the company’s Chrysler brand dropped 2% as sales of the Chrysler 200 fell 62% year over year in May to 2,300. FCA continues to try to sell all dealer inventory on this discontinued model. Sales of the Chrysler 300 fell 19% to 3,907 units. The all-new Pacifica minivan posted May sales of 11,720 (up 325% year over year) and has sold more than 47,000 units since the beginning of the year.
The company’s Dodge brand sales rose 8% year over year in May, as sales of the Dodge Caravan rose 58% to 13,786 units in the month. The company’s Journey compact sport utility vehicle (SUV) saw sales rise by 23% year over year to 8,003 units sold in May.
Retail sales rose 1% year over year in May and represented 79% of all unit sales. Alfa Romeo sales rose to 919 in May, up nearly 2,000% year over year as sales of the new Giulia have taken off.
Chrysler’s shares traded up about 4.6% midday Thursday to $11.06, in a 52-week range of $5.45 to $11.65. The consensus price target on the stock is $11.08, according to MarketWatch.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
