Chrysler Sales Drag Rock Bottom Down 19% In March
Chrysler LLC today reported total March 2008 sales of 166,386 units which is 19 percent below
the same period last year. Total March sales reflect a combination of positive consumer response to new models, a sustained and planned reduction in daily- rental fleet vehicle sales and an industry-wide slowdown in large pickup truck and SUV sales. All sales figures are reported as unadjusted.
"We are in a period where the public hears news about the economy every day and it is clearly having an impact on our industry," said Vice Chairman and President Jim Press. "At the same time, this market environment is driving more customers to our newest value-oriented, fuel-efficient products like Jeep Patriot, Dodge Journey, Dodge Avenger and Chrysler Sebring. Chrysler's strategy to right-size our operations, increase fuel efficiency and reduce daily rental fleet sales will help us get through this period as a stronger company with healthier dealers."
Chrysler had solid customer interest for its combined compact vehicle lineup of the Dodge Caliber, Jeep Compass and Patriot. Combined, the three vehicles reached 21,909 compact vehicle buyers in March, an increase of 51 percent from March 2007. All three models had increased sales in March to set a new monthly sales record for the lineup.
New customer sales increased 18 percent for Chrysler's two new long wheel base minivans, the Chrysler Town & Country and Dodge Grand Caravan. Total Dodge Grand Caravan March sales were 14,101, an increase of 8 percent over the same model in 2007. The Chrysler Town & Country long wheel base model had strong March sales of 13,335 units, a year-over-year increase of 32 percent.
Chrysler's new mid-sized cars continue to grab marketshare with total Chrysler Sebring Sedan/Sebring Convertible sales up 23 percent and Dodge Avenger sales up 8 percent, for a 15 percent segment increase in March 2008. Another new vehicle, the Dodge Journey sold 2,640 units in its second month of sales.
The Company finished the month with 423,607 units of inventory, or a 66- day supply. Inventory is down by 15 percent compared with March 2007 when it was at 499,771 units.
Customer Initiatives
Chrysler LLC recently launched a Customer Advisory Board, providing the Company an opportunity to establish two-way dialogue with customers and design the products they want and need.
In April, Chrysler will continue to offer special "New Day" vehicle packages that combine our most popular features on a wide range of vehicles at reduced prices.
Chrysler will continue to offer the most unique product lineup in the industry, along with the most innovative products and the best Lifetime Powertrain Warranty coverage in the market.
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