Chrysler Reports May Sales Up 11% image

Chrysler reported sales in May up 11% to 165,596 vehicles, the best May for the automaker in the past 6 years.

This would be Chrysler’s 38th consecutive months of year-over-year sales increases. The Ram brand reported sales up 24% in May, Dodge increased 23%, Fiat and Jeep were both up 1% and Chrysler jumped 2%.

“We continue to see strong retail sales throughout our product lineup as eight Chrysler Group vehicles set sales records in May, including best sales ever by the Jeep Wrangler and Compass,” Reid Bigland, head of U.S. sales for Chrysler, said in a statement.

Analysts predict that automakers will report higher sales in May as customers were attracted by the deals offered during the Memorial Day sales events and also by the fat that many of them replaced their aging vehicles. Sales in May are expected to have rise between 6% and 8.5% compared with the same month last year.

“May sales quickly chased away any of last month’s concerns that the auto recovery is stalling,” senior analyst Jessica Caldwell said in a statement. “The quick rebound is just another example of how the auto industry is currently one of the most resilient areas of the overall economy.”

Source: The Detroit News