Company gains retail market share in June

Posted on Wednesday, July 1st, 2009 at 2:31 PM EDT.

Chrysler Group LLC today reported more than a 1 percentage point increase in retail market share with June U.S. retail sales of 66,324 units. Retail sales declined 16 percent compared with the same time period in 2008. During the month of June, Chrysler Group LLC did not produce any vehicles for fleet sales, which resulted in a fleet sales reduction of 95 percent year-over-year for the same period.

“We are proud our new company starts out its first month with increasing market share and continued strong retail sales,” said Peter Fong, President and Chief Executive Officer – Chrysler Brand and Lead Executive for the Sales Organization, Chrysler Group LLC. “It’s a testament to our strong dealer network and loyal customers who supported Chrysler during the formation of the new company. We will continue to grow our new company by building on our brand heritage and offering consumers high-quality, fuel-efficient Chrysler, Dodge and Jeep® vehicles,” Fong added.

Chrysler Group LLC reported total U.S. sales for June 2009 of 68,297 units, a decrease of 42 percent compared with June 2008. The company finished the month with 195,272 units in inventory, representing a 71 day supply. Inventory is down 56 percent versus June 2008 when it totaled 440,075 units. Overall industry figures for June 2009 are projected to come in at an estimated 9.7 million SAAR.

On June 1, the U.S. Bankruptcy Court approved the sale of the majority of Chrysler LLC’s assets to a new company, Chrysler Group LLC, in alliance with Fiat S.p.A., and on June 10, the transaction closed, forming Chrysler Group LLC. As of June 29, 2009, Chrysler Group LLC has resumed production at eight of its manufacturing facilities.

June Sales Highlights

- Chrysler Group LLC increased its retail market share to 9.0 percent, which is more than a 1 percentage point improvement compared with June 2008
- Dodge Challenger sales up 34 percent (1,369 units) versus June 2008
- Dodge Ram continues its strong retail sales trend this year, posting a 4   percent increase versus the same time period in 2008
- Jeep Liberty retail sales increased 8 percent compared with June 2008
- Dodge Journey retail sales increased 7 percent compared with the same time period in 2008

Incentives

July starts “Summer Clearance” at Chrysler, Dodge and Jeep dealerships across the United States. Chrysler Group LLC is pleased to offer zero percent financing for 60 months through GMAC Financial Services on select 2009 model vehicles, or up to $4,000 Consumer Cash on 2009 model vehicles. In addition, current Chrysler LLC vehicle owners are eligible for up to $1,000 Owner Loyalty cash on select 2008 and 2009 Chrysler, Jeep and Dodge vehicles. These offers are in addition to the Credit Union Bonus Cash of up to $1,000 on select products for qualified credit union members who finance their new vehicle purchase through a participating Credit Union under the Invest in America program. These incentives are valid through July 31, 2009.

On Wednesday, June 24, President Obama signed the Supplemental Appropriations bill, which includes the fleet modernization program (commonly known as “Cash for Clunkers”). The program is expected to take effect July 24, 2009 and will provide $3,500 – $4,500 to consumers whose trade-in vehicle meets the program qualifications. Chrysler Group LLC not only supports the program, but also is adding an additional incentive of as much as $750 for current Chrysler Group owners who have vehicles that qualify.

This entry was posted on Wednesday, July 1st, 2009 at 2:31 PM EDT and is filed under Company. You can follow any comments to this entry through the RSS 2.0 feed. Comments are currently closed.