Chrysler LLC Reports 25% Decline in May 2008 Sales
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Chrysler LLC reported total May 2008 sales of 148,747 units, which is 25% below the same period last year. Total May sales reflect a combination of record sales of Chrysler's newest highly fuel-efficient vehicles, an unusually high 40% cut in monthly fleet vehicle sales and a continued industry wide slowdown in pickup truck and SUV sales. All sales figures are reported as unadjusted.
"There is a new era emerging in the restructuring of the American economy. There is an unprecedented shift in the industry that is challenging, but we are determined to provide consumers what they need and want," Vice Chairman and President Jim Press said. "We are responding to consumers with innovative incentive choices and new vehicle offerings, five of which get 28 mpg highway driving for under $20,000. These actions have helped move our retail sales more in line with the overall industry and provided a lift for our dealers this month."
Two vehicles reached new monthly sales records in May with the Dodge Caliber posting sales of 12,856 units, up 7% compared with May 2007 sales of 12,052 units, and the all-new Dodge Journey reaching 7,520 units in only its fourth month of sales.
The fuel-efficient Jeep(R) Patriot posted record monthly sales as it continues to be one of Chrysler's fastest growing models. Jeep Patriot sales of 8,199 units represented an 82% increase in May 2008 versus the same period last year.
Customers continue to take advantage of the luxury-value equation of the Chrysler Aspen, which posted sales of 2,037 units, an 18% increase from May 2007 sales of 1,724 units.
Despite slow industry sales, the Company finished the month with 412,009 units of inventory, or a 75-day supply. As part of a planned reduction, inventory is down 14 percent compared with May 2007 when it totaled 479,501 units.
"We are pleased with the consumer response to the Let's Refuel America $2.99 Gas Guarantee program," Press said. "Shoppers really appreciate the opportunity to stabilize their fuel costs and to increase their savings if gas prices continue to rise. The program gives consumers three incentive choices of similar current value to help them address their most pressing needs. With great high mileage product, creative incentive choices, a strong dealer network, and dedicated employees, we are ushering in new confidence for the month of June."[SM]
CHRYSLER BRAND monthly sales 32,776 vs. May 2007 sales of 53,157 (-38%)
JEEP BRAND monthly sales 35,841 vs. May 2007 sales of 42,870 (-16%)
DODGE BRAND monthly sales 80,130 vs. May 2007 sales of 103,366 (-22%)
TOTAL CHRYSLER LLC monthly sales 148,747 vs. May 2007 sales of 199,393 (-25%)
TOTAL CAR monthly sales 42,124 vs. May 2007 sales of 62,621 (-33%)
TOTAL TRUCK monthly sales 106,623 vs. May 2007 sales of 136,772 (-22%)
"There is a new era emerging in the restructuring of the American economy. There is an unprecedented shift in the industry that is challenging, but we are determined to provide consumers what they need and want," Vice Chairman and President Jim Press said. "We are responding to consumers with innovative incentive choices and new vehicle offerings, five of which get 28 mpg highway driving for under $20,000. These actions have helped move our retail sales more in line with the overall industry and provided a lift for our dealers this month."
Two vehicles reached new monthly sales records in May with the Dodge Caliber posting sales of 12,856 units, up 7% compared with May 2007 sales of 12,052 units, and the all-new Dodge Journey reaching 7,520 units in only its fourth month of sales.
The fuel-efficient Jeep(R) Patriot posted record monthly sales as it continues to be one of Chrysler's fastest growing models. Jeep Patriot sales of 8,199 units represented an 82% increase in May 2008 versus the same period last year.
Customers continue to take advantage of the luxury-value equation of the Chrysler Aspen, which posted sales of 2,037 units, an 18% increase from May 2007 sales of 1,724 units.
Despite slow industry sales, the Company finished the month with 412,009 units of inventory, or a 75-day supply. As part of a planned reduction, inventory is down 14 percent compared with May 2007 when it totaled 479,501 units.
"We are pleased with the consumer response to the Let's Refuel America $2.99 Gas Guarantee program," Press said. "Shoppers really appreciate the opportunity to stabilize their fuel costs and to increase their savings if gas prices continue to rise. The program gives consumers three incentive choices of similar current value to help them address their most pressing needs. With great high mileage product, creative incentive choices, a strong dealer network, and dedicated employees, we are ushering in new confidence for the month of June."[SM]
CHRYSLER BRAND monthly sales 32,776 vs. May 2007 sales of 53,157 (-38%)
JEEP BRAND monthly sales 35,841 vs. May 2007 sales of 42,870 (-16%)
DODGE BRAND monthly sales 80,130 vs. May 2007 sales of 103,366 (-22%)
TOTAL CHRYSLER LLC monthly sales 148,747 vs. May 2007 sales of 199,393 (-25%)
TOTAL CAR monthly sales 42,124 vs. May 2007 sales of 62,621 (-33%)
TOTAL TRUCK monthly sales 106,623 vs. May 2007 sales of 136,772 (-22%)
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