July was another strong month for the rebounding automaker. Chrysler enjoyed strong sales through the month with Jeep having one of its strongest months ever.
July was a strong month for the industry as a whole. At the current sales rate the industry is enjoying, it will be the best year since 2006 according to Bloomberg News.
“The on-again, off-again relationship is back on and the love affair goes on,” Jeff Schuster, an analyst with LMC is quoted as saying. “It shows consumers are feeling good about the position of the economy. Combine that with some new products and relatively low fuel prices and the magic takes over.
Jeep was not the only member of the Chrysler family to enjoy July’s sales. The Town and Country’s sales were up by 41 percent with the best July the minivan has had since 2006.
Many factors go into what could cause such a successfully month. The ones that Bloomberg credits the most is there being more available credit options for subprime borrowers along with lower interest rates.
Fred Diaz, Nissan’s senior VP of North American sales sees another good reason why auto sales are up. “The reason I say that is the pent-up demand and the age of the average vehicle on the road today is still over 11 years old. That’s going to keep us primed for moderate, steady or slow growth.
Now the July is over and done with, it’s that time we looked back and see just how the numbers for the month was. I have run out of ways to repeat myself in wondering how long the streak that Chrysler has been enjoying will last, and I’ve also run out of ways to say not yet.
Chrysler is now posting that they had their 28th consecutive month of year-over-year sales gains. That is a 13 percent increase for the month of July. To break it down even further, the Chrysler 200 was the top seller with an increase of 43 percent. Town & Country also did very well with a 25 percent year-over-year increase and the 300 got a 41 percent increase of sales.
Some big news for the month comes from the Dodge side of sales. Dodge itself had modest sales gains, but one little nugget comes from that. Long teased, much hyped, the Dodge Dart had 772 sales in the month. It might seem like a low number, but it’s due to a very limited release with the full production nowhere near peak levels yet. It’ll be interesting to see what happens when it is truly unleashed.
Jeep and Ram brand also found themselves showing positive gains. The overall take away from the Chrysler side of sales is that they are still managing to be positive in an otherwise slow and weak economy. The book has yet to be written on when this trend goes away, but for the moment, Chrysler is doing very well for itself.