Chrysler Group today reported U.S. sales of 122,565 units, a 14% increase compared with sales in November 2011 (107,172 units), and the group’s best November sales since 2007 before the Great Recession put it into bankruptcy.
U.S. industry sales figures for November are projected at an estimated 15.3 million units Seasonally Adjusted Annual Rate or SAAR up from a 13.6 million rate in 2011, a ~13% increase. Chrysler, alone among the Detroit Three, appears to be the only domestic company keeping pace with the slowly recovering U.S. auto market based on preliminary results.
The volume leader remains the Ram pickup truck at more than 24,000 units. The truck, which is in the midst of a changeover to a revised 2013 model, had a stunning – and unsustainable – $5,000 in incentives on it during the month.
The Chrysler, Dodge, Ram Truck and Fiat brands each posted year-over-year sales gains in November compared with the same month last year. The Fiat brand’s 123% increase was the largest sales gain of any Chrysler Group brand for the month, albeit form a tiny base to 3,600 500 models.
As usual, Jeep, Dodge Ram and minivans comprised the bulk of sales by far, accounting for more than 75,000 vehicles or 61% out of a total of 123,000. Worrisome were results for the new Dodge Dart compact car sold 4,500 units, almost a 1,000 unit drop from October in one of the hottest segments in the car market.
Calendar year to date, Chrysler said the average transaction price for a Dart is more than $22,000, the highest average transaction price in the compact car segment and more than $5,000 higher than Dodge’s previous compact car, the ill-fated Dodge Caliber.
“Our November sales were up 14% and we extended our sales streak to 32-consecutive months of year-over-year sales gains. We are expecting a strong December as the industry continues to recover from the East Coast hurricane and consumers continue to respond to our popular year-end Big Finish event,” said Reid Bigland, Head of U.S. Sales.
Fiat 500, Dodge Journey full-size crossover, and the Jeep Wrangler sport-utility vehicle, each set a sales record for the month of November. The Journey’s 77% sales gain to 6,600 units was the largest percentage increase of any Dodge brand model in November.
Chrysler Group finished the month with a 90-day supply of inventory (442,241 units).
