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Fiat Chrysler Automobiles (FCAU) July U.S. Auto Sales Rose 0.3%, Missing Views

August 2, 2016 9:46 AM EDT
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  • Jeep® and Ram Truck brands both up 5 percent year-over-year
  • Sales of Jeep Renegade up 57 percent in July versus same month in 2015
  • Ram ProMaster and Ram ProMaster City vans drive brand increase in July
  • All-new 2017 Fiat 124 Spider posts 480 sales in its first full month in the marketplace
  • Sales of all-new 2017 Chrysler Pacifica up month-over-month as launch momentum continues to build

FCA US LLC (NYSE: FCAU) reported U.S. sales of 180,727 units, up 0.3 percent compared with sales in July 2015 (180,124 units).

*** NOTE: The Street was looking for an increase of 1.9 percent.

FCA US retail sales of 155,885 were down 2 percent in July, while fleet sales of 24,842 were up 22 percent year over year.

Both the Jeep and Ram Truck brands were up 5 percent in July compared with the same month a year ago. The Jeep Renegade, Jeep Grand Cherokee, Jeep Compass, and Jeep Patriot posted sales gains in July versus July 2015, as did the Ram pickup truck and the Ram ProMaster and Ram ProMaster City vans. Two Dodge brand models – the Dodge Grand Caravan and the Dodge Challenger – also turned in year-over-year sales gains in July. Sales of the Fiat 500X were up year-over-year as well.

Jeep® BrandJeep brand sales were up 5 percent in July versus the same month in 2015. The Jeep Renegade's 57 percent increase was the largest percentage increase of any Jeep brand model in July. In addition, the Jeep Grand Cherokee, Jeep Compass, and the Jeep Patriot each logged a year-over-year sales gain. Last month, the Jeep Grand Cherokee – the most awarded SUV ever – won AutoPacific's Ideal Vehicle Award for the Mid-Size SUV segment for the sixth-consecutive year.

Ram Truck BrandRam Truck brand sales, which include the Ram pickup, Ram ProMaster and Ram ProMaster City, were up 5 percent in July versus the same month a year ago. The increase was driven in part by double-digit percentage increases by the Ram ProMaster and the Ram ProMaster City vans. In addition, sales of the Ram pickup truck were up 2 percent compared with the same month a year ago. FCA US announced in July that it will invest $1.48 billion in its Sterling Heights Assembly Plant (Mich.) to retool it to build the next generation Ram 1500 and support the future growth of the Ram Truck brand.

Chrysler BrandChrysler brand sales were down 4 percent in July compared with the same month a year ago. The all-new 2017 Chrysler Pacifica continues to build momentum in the marketplace. Sales of the Pacifica were up 1 percent in July compared with the previous month of June. July was the minivan's fourth month in the marketplace. The Pacifica earned an Editor's Choice pick in July from Roadshow by CNET, in part for the "nicest interior and smart, family-minded technology."

Dodge BrandDodge brand sales were down 10 percent in July compared with the same month a year ago. The Dodge Grand Caravan and the Dodge Challenger each posted year-over-year increases in July versus the same month a year ago. Sales of the Grand Caravan were up 28 percent, while sales of the Challenger muscle car increased 7 percent in July. For the fourth year, the Challenger has won AutoPacific's Ideal Vehicle Award in the Sporty Car segment, having the "Most Ideal Sporty Car" in its segment.

FIAT BrandFIAT brand sales, which include the Fiat 500, Fiat 500L and 500X, were down 14 percent in July. In its first month on sale, the all-new 2017 Fiat 124 Spider posted 480 in sales in July. The 124 Spider revives the storied nameplate, bringing its classic Italian styling and performance to a new generation. Paying homage to the original 124 Spider nearly 50 years after its introduction, the 2017 Fiat 124 Spider delivers the ultimate Italian roadster experience with driving excitement, technology and safety combined with iconic design. In July, sales of the Fiat 500X were up 1 percent compared with the same month a year ago.

FCA US LLC Sales Summary July 2016

Reflects Restated Sales

Month Sales

Vol %

CYTD Sales

Vol %

Model

Curr Yr

Pr Yr

Change

Curr Yr

Pr Yr

Change

Compass

7,005

5,359

31%

57,565

33,527

72%

Patriot

11,288

10,211

11%

71,926

69,638

3%

Wrangler

18,741

19,828

-5%

119,042

121,272

-2%

Cherokee

15,451

17,460

-12%

116,424

122,568

-5%

Grand Cherokee

16,704

16,191

3%

116,850

109,176

7%

Renegade

10,057

6,410

57%

61,907

19,920

211%

JEEP BRAND

79,246

75,459

5%

543,714

476,101

14%

200

5,474

9,526

-43%

41,676

116,135

-64%

300

2,369

3,820

-38%

33,154

28,730

15%

Town & Country

3,341

6,561

-49%

54,826

46,214

19%

Pacifica

7,911

0

New

18,742

0

New

CHRYSLER BRAND

19,095

19,907

-4%

148,398

191,079

-22%

Dart

3,341

5,797

-42%

31,602

54,759

-42%

Avenger

0

90

-100%

0

1,152

-100%

Charger

4,949

5,936

-17%

57,852

60,838

-5%

Challenger

5,619

5,241

7%

39,998

42,332

-6%

Viper

49

57

-14%

350

419

-16%

Journey

6,376

9,255

-31%

54,051

62,008

-13%

Caravan

10,055

7,846

28%

84,140

45,888

83%

Durango

5,131

5,270

-3%

43,665

36,305

20%

DODGE BRAND

35,520

39,492

-10%

311,658

303,701

3%

Ram P/U

39,827

39,159

2%

270,637

254,902

6%

Cargo Van

0

59

-100%

21

2,115

-99%

ProMaster Van

3,055

2,167

41%

20,527

14,225

44%

ProMaster City

1,187

636

87%

10,897

3,682

196%

RAM BRAND

44,069

42,021

5%

302,082

274,924

10%

Alfa 4C

43

49

-12%

338

354

-5%

ALFA BRAND

43

49

-12%

338

354

-5%

500

1,097

1,940

-43%

8,857

15,880

-44%

500L

227

314

-28%

2,527

6,020

-58%

500X

950

942

1%

7,481

1,218

514%

Spider

480

0

New

481

0

New

FIAT BRAND

2,754

3,196

-14%

19,346

23,118

-16%

TOTAL FCA US LLC

180,727

180,124

0%

1,325,536

1,269,277

4%

Total Car & MPV

44,955

47,177

-5%

374,543

418,721

-11%

Total UV's

91,703

90,926

1%

648,911

575,632

13%

Total Truck & LCV

44,069

42,021

5%

302,082

274,924

10%

Method of Determining Monthly Sales. FCA US's reported vehicle sales represent unit sales of vehicles to retail customers, deliveries of vehicles to fleet customers and to others such as FCA US's employees and retirees as well as vehicles used for marketing. Most of these reported sales reflect retail sales made by dealers out of their own inventory of vehicles previously purchased by them from FCA US. Reported vehicle units sales do not correspond to FCA US's reported revenues, which are based on FCA US's sale and delivery of vehicles, and typically recognized upon shipment to the dealer or end customer. As announced on July 26, 2016, FCA US has modified its methodology for monthly sales reporting as follows:Sales to retail customers by dealers in the U.S. are derived from the New Vehicle Delivery Report ("NVDR") system and are determined as the sum of (A) all sales recorded by dealers during the month net of all unwound transactions recorded to the end of that month (whether the original sale was recorded in the current month or any prior month); plus (B) all sales of vehicles during that month attributable to past unwinds that had previously been reversed in determining monthly sales (in the current or prior months).

Fleet sales are recorded as sales upon the shipment of the vehicle by FCA US to the customer or end user.Other retail sales are recorded either (A) when the sale is recorded in the NVDR system (for sales by dealers in Puerto Rico and limited sales made through distributors that submit NVDRs in the same manner as for sales by U.S. dealers) or (B) upon receipt of a similar delivery notification (for vehicles for which NVDRs are not entered such as vehicles for FCA employees). ***



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