Dec 3 Chrysler Group LLC said its U.S. vehicle
sales in November jumped 16 percent from a year before, beating
Chrysler, an affiliate of Italy's Fiat SpA, said
Tuesday that November sales were 142,275, partly on the strength
of its new 2014 Jeep Cherokee. Analysts polled by Thomson
Reuters had expected 135,189. Chrysler said it was the best
November since 2007, before the auto industry plunged into a
Chrysler was the first of the Detroit automakers to report
November sales. General Motors Co and Ford Motor Co
will report later in the day, as will foreign brands.
The introduction of the redesigned Cherokee at Chrysler
helped push Jeep brand sales to a record 45,415, up 30 percent.
Fiat brand sales, however, dropped 15 percent to 3,075, despite
the launch of the new Fiat 500L.
Pickup trucks displayed continued appeal, propelling Ram
brand sales to 31,255, up 25 percent. Dodge brand sales rose 4
percent to 41,506, while Chrysler brand sales climbed 12 percent
Chrysler said it expects industry sales in November reached
an annual rate of 16.3 million, including about 300,000 medium-
and heavy-duty trucks.
Analysts polled by Thomson Reuters had estimated the
seasonally adjusted annual sales rate in November, not including
the larger trucks, was 15.75 million.
Monthly sales are regarded as an early indicator of the U.S.
economy's health. The industry has held up better than the
broader economy because of easier access to credit and
consumers' need to replace aging vehicles, which now average
more than 11 years.
Analysts who closely follow the industry expected November
sales rose from 3.6 percent to 6.8 percent as demand returned to
"normal" after the 16-day government shutdown hurt October
GM and Ford were expected to show gains for November, marked
by continued strong end-of-the-year demand for full-size pickup
trucks like the Chevrolet Silverado and Ford F-150.
Industry research firm TrueCar.com said average vehicle
transaction prices fell slightly in November for the first time
in three years as manufacturers continued to clear out supplies
of leftover 2013 models with generous incentives averaging more
than $2,500 per vehicle.