Chrysler Group LLC Reports June U.S. Sales Decline of 42%
Chrysler Group LLC reported more than a 1% point increase in retail market share with June U.S. retail sales of 66,324 units. Retail sales declined 16% compared with the same time period in 2008. During the month of June, Chrysler Group LLC did not produce any vehicles for fleet sales, which resulted in a fleet sales reduction of 95% year-over-year for the same period.
Chrysler Group LLC reported total U.S. sales for June 2009 of 68,297 units, a decrease of 42%compared with June 2008. The company finished the month with 195,272 units in inventory, representing a 71 day supply. Inventory is down 56% versus June 2008 when it totaled 440,075 units. Overall industry figures for June 2009 are projected to come in at an estimated 9.7 million SAAR.
On June 1, the U.S. Bankruptcy Court approved the sale of the majority of Chrysler LLC's assets to a new company, Chrysler Group LLC, in alliance with Fiat S.p.A., and on June 10, the transaction closed, forming Chrysler Group LLC. As of June 29, 2009, Chrysler Group LLC has resumed production at eight of its manufacturing facilities.[SM]
Stocks Mentioned
Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
