Chrysler March U.S. Sales Rise 13%

(RTTNews) - Automaker Chrysler Group LLC reported Tuesday a 13 percent increase in total U.S. sales for the month of March, marking the 48th consecutive month of year-over-year sales gains, reflecting sales growth in four of its five brands. The company also recorded the best March sales since 2007.

"We are entering the spring selling season on a high note as our Jeep and FIAT brands recorded their best sales months ever and Chrysler Group extended its streak in March to 48-consecutive months of year-over-year sales increases. Our Ram pickup truck posted its best March sales in 10 years," said Reid Bigland, Head of U.S. Sales.

Chrysler, which was once part of German automotive company Daimler AG, emerged from Chapter 11 reorganization in June 2009 and was bought by Italian automaker Fiat S.p.A. (FIATY) in a U.S. government-brokered deal. Chrysler Group, the third-largest U.S. automaker, is now a wholly-owned subsidiary of Fiat.

The Auburn Hills, Michigan-based company reported total U.S. sales of 193,915 units, up 13 percent from 171,606 units in sold in March 2013.

Total car sales for the month of March decreased 25 percent to 46,870 units, while total truck sales increased 34 percent to 147,045 units from the same period last year.

The sales growth was attributable to Fiat, Jeep, Dodge and Ram Truck brands posting sales increases in March, with six Chrysler Group vehicles - Jeep Compass, Jeep Patriot, Jeep Wrangler, Dodge Journey, Ram Cargo Van and the Fiat 500L - setting best ever sales records for the month of March.

The Jeep brand of vehicles led the sales increase with a 47 percent growth to 57,983 units from last year, the best ever monthly sales. This was followed by Ram Truck brand of vehicles with a 29 percent rise in sales, Fiat brand of vehicles with a 24 percent sales growth, and Dodge brand with a 1 percent sales increase.

Meanwhile, the namesake Chrysler brand sales dropped 23 percent, reflecting the end of production of the 2014 Chrysler 200 mid-size sedan and convertible. Chrysler 200 sales dropped 55 percent and Chrysler 300 sedan sales declined 6 percent. However, the award-winning Chrysler Town & Country minivan generated sales growth of 14 percent from a year ago.

Jeep Grand Cherokee sales rose 26 percent, Jeep Compass sales increased 4 percent, and Jeep Patriot sales grew 14 percent from a year ago. Jeep Wrangler sales also improved 12 percent from last year. Sales of the all-new Jeep Cherokee mid-size SUV also improved sequentially.

Sales of Ram pickup truck were up 26 percent from a year ago to its best March sales in 10 years, with sales of Ram Light Duty increasing 24 percent and Ram Heavy Duty pickups growing 28 percent. Ram Cargo Van sales also grew 19 percent.

The Dodge brand was saved by a 27 percent growth in Dodge Caravan sales, and a 25 percent growth in Dodge Journey mid-size crossover sales from last year. Further, Dodge Durango full-size SUV sales grew 22 percent and Dodge Charger sales improved 15 percent from last year.

Meanwhile, Dodge Avenger mid-size sedan sales dropped 30 percent, Dodge Challenger muscle car sales declined 20 percent and Dodge Dart sales decreased 24 percent grew from a year ago.

Meanwhile, General Motors Co. (GM), the largest U.S. Automaker, and Dearborn, Michigan-based Ford Motor Co, (F), the second largest U.S. automaker, are also scheduled to report sales figures for the month of March later in the day.

FIATY closed Monday's regular trading session at $11.67.