New York 03/04/2012 - Chrysler Group, which is owned by Italy’s Fiat SpA, reported US sales of 163,381 light vehicles in March, a 34-percent increase on the same month of last year.
The company, which was nearly insolvent just a couple of years ago, has now recorded 24 consecutive months of year-on-year sales gains and 10 straight months of 20-percent sales increases.
Sales also rose 39 percent in the first quarter, the best total since the first quarter of 2008, the company added.
“The combination of credit availability, an improving economy, pent-up demand and even high fuel prices encouraging people to acquire newer more fuel-efficient vehicles are all helping to drive industry sales,” Reid Bigland, president and CEO of Dodge and head of US sales, said in a statement.
Chrysler finished the month with a 59 days' supply of inventory at 346,939 units.
US industry sales figures for March are projected at an estimated 14.7 million units seasonally adjusted annual rate (SAAR), the company said.
In terms of brands, the Fiat nameplate, which launched a major marketing campaign during this year's Super Bowl, led the way with a 642-percent year-on-year increase in March, setting a monthly sales record.
Chrysler brand sales were up 70 percent in March, led by a strong 169-percent increase in Chrysler 300 sedan sales.
Jeep brand sales increased 36 percent in March on the same month in 2011, the brand’s best March in five years. Dodge and Ram Truck brands rose 18 percent and 23 percent respectively.
(Editing by Mark Shaw)
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