Cars and Drivers

Jeep Sales Slide 15% as Fiat Chrysler April Sales Dip 1%

courtesy of Fiat Chrysler Automobiles NV

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.

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.

Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)

Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.

Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.

Click here now to get started.

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