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Another Nail In The Coffin? Chrysler Sales Fall 36% In June
Chrysler LLC today reported total June 2008 U.S. sales of 117,457 units, which is 36 percent below the same period last year. Total June sales reflect a continued contraction of the market, especially of pickup trucks and SUVs, continued reductions in fleet sales, and increases in Chrysler's newest highly fuel-efficient vehicles. All sales figures are reported as unadjusted.
"The June results reflect the industry-wide impact of U.S. consumer confidence being at its lowest point since 1992," Jim Press, President and Vice-Chairman of Chrysler LLC said. "But Chrysler is fighting back and making progress by continuing to invest in our products and aligning our volume with the market.
"During difficult periods like this, it is critical that we continue to evolve our products to meet our customers' needs and as a result, be a stronger company when the economy recovers. Examples of this evolution are our six vehicles that get 28 miles per gallon, and the 2009 Dodge Ram and 2009 Chrysler Aspen/Dodge Durango Hybrids with improved fuel economy,
innovative storage, and industry-leading Internet connectivity options."
Chrysler's Let's Refuel America $2.99 Gas Guarantee Plus Cash program has been extended through July 31. The program continues to help improve showroom traffic and drive sales of the company's most fuel-efficient vehicles. For July, the program will offer the unique opportunity for customers to lock in their gas prices at $2.99 for three years and get cash
back (on the majority of vehicles). The other two incentive choices offered are cash back alone or 0 percent APR financing. Since the program began in May, the vehicles in Chrysler's lineup with the highest gas program take rate were the Chrysler Sebring Sedan, Dodge Journey, Dodge Caliber and Dodge Avenger.
The Dodge Journey is making its mark in the crossover segment with best-in-class fuel economy (19 city/25 mpg highway) and award-winning seven-passenger interior utility. The Dodge Journey reached 5,162 units in its fifth month of sales to become one of the most popular mid-size crossovers in the market.
Compact Vehicles Growth
The all-new Jeep(R) Patriot posted sales for June with 4,889 units, up 6 percent compared with June 2007 sales of 4,633 units. Combined year-to-date (YTD) total sales of the fuel-efficient Dodge Caliber, Jeep Compass and Jeep Patriot compact vehicles which each achieve 28 miles per gallon or better in highway driving, reached 114,188 units, up 18 percent
from YTD 2007 combined sales of 96,553 units.
Minivan Highlights
The Dodge Grand Caravan posted total June sales of 14,214 units, an increase of 52 percent versus June 2007 sales of 9,342 units. While the Chrysler Town & Country also saw strong sales in June with 9,833 units, up 21 percent compared with June 2007 sales of 8,151 units. Through June YTD, new customer sales increased (retail only) 27 percent for Chrysler's two,
new long-wheelbase minivans, the Chrysler Town & Country and Dodge Grand Caravan, compared with the same two long-wheelbase models last year. Minivans remain a fuel-efficient option over large SUVs for transporting seven passengers and cargo, getting up to 24 miles per gallon on the highway (3.3L engine).
Despite slow industry sales, the Company finished the month with 440,075 units of inventory, or a 90-day supply. As part of a planned reduction, inventory is down 9 percent compared with June 2007 when it totaled 485,429 units.
Cars and Compact Vehicles
Sales of these cars and car-based compact vehicles represent 40 percent of Chrysler's lineup through June, an increase from 35 percent of the lineup a year ago. Chrysler's lineup of cars and compact vehicles continue to connect well with consumers, led by six vehicles which achieve 28 miles per gallon or better in highway driving.