Chrysler Group October Sales Up 27%. Comeback Continues

Chrysler Group today reported U.S. sales of 114,512, a 27% increase compared with sales in October 2010. Overall, October sales year-on-year are down about 10% in the slowly recovering industry. It was the Number Three Detroit automaker’s best October since 2007. This wasn’t good enough to defend its recent Number Three U.S. sales position, as Toyota’s return to the market with better inventories moved it back into the Number Three spot by 20,000 units.

The Chrysler, Jeep, Dodge, and Ram Truck brands all posted sales increases in October. The Chrysler brand’s 28% sales increase was the largest percentage gain of all the Chrysler Group brands.

Nevertheless the sales strength at the Chrysler Group remains with trucks, notably Jeep this month – at 81,930 units versus cars at 32,582 units.  Car sales are increasing at a greater rate because of a lower base, helped by the Chrylser 200 (11,205) compared to the unloved, ungainly Sebring it replaced.

Ram Truck brand sales (21,836 units) increased 21% compared with the same month a year ago. Jeep brand sales (35,733 units) increased 25% versus the same month last year (28,480 units).

“The month of October also marked our 19th-consecutive month of year-over-year sales gains,” said Reid Bigland, President and CEO – Dodge Brand and Head of U.S. Sales. Year-to-date Chrysler Group sales grew at a 23% rate to 1,123,923 vehicles compared to the same period in 2010. The rate of growth is roughly double the industries growth rate in 2011 based on preliminary October numbers.

Chrysler Group finished the month with a 68-day supply of inventory (299,896 units). U.S. industry sales figures for October are projected at an estimated 13.5 million SAAR.