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Posts Tagged ‘FCA sales’

Some Up, Some Down as Automakers Report January Sales

Strong consumer confidence yields record for Hyundai, but numbers slump at GM, Ford and Toyota.

by on Feb.01, 2017

Dusting the competition: Ford was down overall, but had a spectacular month for F-Series.

After a robust finish to 2016, new vehicle sales slowed in January, though generally remained healthy enough overall to boost confidence for the coming year.

There has been concern within the industry that 2016 brought a peak to the automotive recovery, with analyst and industry planners watching to see if and when things would begin to cool off. The good news they got was that, with a few exceptions, the new car market appeared to do better than initially forecast – and not only were sales relatively solid but consumers continued buying more expensive products.

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The numbers were decidedly mixed, industry giants General Motors, Toyota and Ford all reporting year-over-year declines for January. But Nissan’s sales were up for the month, and a number of automakers scored new sales records, including Hyundai, Audi and Nissan’s luxury arm Infiniti. Auto industry analysts had been anticipating declines of anywhere from 0.7% to 2.7% — according to TrueCar and KelleyBlueBook, respectively. But even for many of those makers who did suffer sales dips in January, the news wasn’t all bad.

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“Unnatural Acts” at Chrysler?

Code words may have signaled potentially illegal sales moves.

by on Sep.02, 2016

Were Fiat Chrysler dealers told to commit "unnatural acts" to help boost sales?

When does the “unnatural” cross into the illegal? That’s apparently something that federal prosecutors are looking into as they ramp up an investigation into potential sales fraud by Fiat Chrysler Automobiles.

Both the U.S. Justice Department and the Securities and Exchange Commission are looking into the way FCA handled sales, probes that have already resulted in the trans-Atlantic automaker having to restate its numbers and admit its streak of month-after-month sales increases actually ended several years ago.

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FCA is by no means the only automaker to have pushed the boundaries, according to industry insiders. But the feds want to know if it crossed the line into illegal actions. The probe has uncovered some of the steps FCA took to boost its sales. Among other things, if the numbers were falling short, corporate officials would tell regional managers and dealers that the “unnatural acts department” was open, according to a report in the Wall Street Journal.

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FCA Earnings Increase Overwhelmed by Sales Reporting Scandal

Maker says profit rose 25% for second quarter.

by on Jul.27, 2016

FCA CEO Sergio Marchionne has reason to celebrate Q2 - albeit cautiously.

Fiat Chrysler Automobiles reported a 25% year-over-year increase in profits for the second quarter, despite hefty recall costs, thanks to strong demand in North America and Europe. That has led the maker to up its guidance for all of 2016.

But recalls aren’t the only problems the maker is dealing with. The trans-Atlantic automaker yesterday acknowledged misreporting its sales numbers in recent years, a problem that has reportedly led to a grand jury investigation. The problem could lead to closer scrutiny by industry analysts and investors.

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“Overall we had a good quarter,” Fiat Chrysler Chief Financial Officer Richard Palmer said during a conference call with analysts and reporters.

FCA earned 321 million euros, or $352 million, for the second quarter, a 25% jump from last year’s 257 million euros, or $282 million.

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Grand Jury Looking into FCA Sales Reporting Scandal

Maker acknowledges fudging numbers.

by on Jul.27, 2016

The FCA scandal could prove a new headache for CEO Marchionne' search for a merger partner.

A federal grand jury is issuing subpoenas as government investigators expand their investigation into potentially illegal Fiat Chrysler Automobiles sales reporting practices, according to published reports.

The news comes a day after the automaker acknowledged that it has misstated its sales figures for a number of years and that rather than having six straight years of sales records, its upward climb actually came to an end in September 2013.

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But several sources who have spoken to TheDetroitBureau.com caution that any probe of sales policies could eventually spread beyond Fiat Chrysler and look at broader industry practices that can misrepresent the numbers. Such practices, said a senior executive at one of the nation’s largest automotive retailers, can negatively impact investors, dealers and consumers alike.

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Luxury Utilities, Crossovers Push July Auto Sales to New Heights

Month finishes near 18-million-unit sales pace.

by on Aug.03, 2015

Small crossovers did well in July and so did Buick, which posted an 18% sales increase led by the Encore.

New vehicle sales remained robust as carmakers continued to post year-over-year gains in a market where the seasonally adjusted annual rate of sales, or SAAR, inched towards 18 million units.

General Motors, Chrysler, Ford, Nissan, Lexus, Audi, Subaru and Volkswagen all posted sales increases for July as the industry sales continued at their best tempo in more than a decade.

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GM posted a 6% increase, which included the best July results for the maker’s four brands combined since 2007. The month was paced by an 18% increase in Buick sales and an 8% increase in Chevrolet sales. Chevrolet’s results included a 24% increase in pickup, van and SUV sales, and the brand’s best July crossover sales ever.  (more…)

June Auto Sales Hit Record Levels

Crossovers, trucks, sport-utes continue leading charge.

by on Jul.01, 2015

The 2015 Lincoln Navigator sales boomed in June, rising 39% and helping Ford to an overall sales increase of 2% last month.

New vehicle sales continued their torrid pace for in the U.S. in June, helping the auto industry finished up the best six months in a decade with a slew of automakers posting sales increases or logging manufacturers sales records.

General Motors, FCA US, Ford, Nissan, Toyota, Audi, Volkswagen and Mazda all reported sales increases in the buoyant market lifted by strong demand for trucks and utility vehicles.

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FCA US LLC posted an 8% increase compared with sales in June 2014 and the group’s best June sales since 2006 and recorded its 63rd-monthly sales increase in a row. (more…)

April Showers Automakers with Demand for Trucks, Crossovers

Many makers setting new records during the month.

by on May.01, 2015

Ford President Joe Hinrichs is thumbs up with good reason: F-150 sales were up 8% in April, helping Ford to a 5% jump for the month.

April showers resulted in a surge of buyers looking for new trucks and crossovers, which benefitted the bottom lines of nearly every automaker.

Ford finally broke out of something of a sales slump in April as it posted a 5% sales increase and General Motors, Fiat Chrysler, Nissan, Toyota and Audi all reported gains as sales of new vehicles boomed with the beginning of spring.

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The Dearborn, Michigan-based company said retail sales in April were the best in nine years. (more…)

Jeep Sales Trek Past 1 Million Mark in 2014

Brand surpasses FCA Chief Marchionne’s lofty goal.

by on Jan.09, 2015

Sergio Marchionne set a sales goal of 1 million units for Jeep this year and the brand hit the mark.

When FCA Chief Sergio Marchionne told reporters at last year’s Detroit Auto Show he expected Jeep to sell 1 million units worldwide in 2014, many considered it a stretch goal, especially since the original forecast was for about 800,000 units. Well, what Sergio wants, it appears he gets as frenzied U.S. sales helped propel Jeep past the mark.

Jeep set a new all-time record for the third consecutive year with sales of 1,017,019, which bettered the brand’s 2013 record of 731,565 by 39%.

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“2014 marks the fifth consecutive year that Jeep vehicle sales have increased both globally and in the U.S. market,” said Mike Manley, president and CEO – Jeep Brand. “While we are especially pleased with the way the new Jeep Cherokee is resonating in the marketplace, the fact is that every vehicle in the Jeep lineup recorded significant worldwide sales gains.” (more…)

FCA Outgrows Competition in North America

Looks for sales to rise by 1 million units by 2018.

by on May.06, 2014

Chrysler is looking to make inroads into the competitive midsize market segment with the news 2015 Chrysler 200.

Fiat Chrysler Automobiles has grown faster than its rivals in North America and plans to expand sales by more than 48% during the next five years as its key brands continue to reach more consumers in U.S., Canada and Mexico.

FCA is betting that the NAFTA region will experience consistent growth over the next five years, reaching 18.7 million units in 2018 thanks to moderate economic growth, positive job outlook and efficient credit markets, noted Reid Bigland, head of sales for the Chrysler Group. In addition, the age of the vehicle fleet in North America continues to rise as consumer confidence improves, he said.

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Sergio Marchionne, FCA chief executive officer, said the company has laid down an optimistic expansion of its business across North America. Sales are expected to jump 1 million more cars in 2018 than it did in 2013 when it sold 2.1 million vehicles. Chrysler sales should increase to 2.9 million units, while sales of Fiat, Alfa Romeo and Ferrari will reach 200,000 units, Marchionne said. (more…)

Altima Takes Car Sales Lead from Camry in February

Nissan, Chrysler enjoy strong sales due to SUVs.

by on Mar.03, 2014

The Nissan Altima took over the car sales lead in February outselling Toyota Camry and Honda Accord.

The cold February weather that settled across the nation set the stage for something of a revolution in showrooms across the country as the Nissan Altima replaced the Toyota Camry and Honda Accord as the best-selling passenger car in the U.S.

The final sales totals for the month of February showed Nissan selling a total of 30,849 Altimas, an increase of 11.3%. Sales of the Toyota Camry, the most popular car in America for more than a decade, fell 7.3% to 28,998 units, while sales of the Honda Accord fell 12% to 24,622.

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The decline in sales of the Camry and Accord also undercut the overall sales results for Toyota and Honda. Toyota sales slipped 4.3% despite and Honda’s fell 7% despite strong utility vehicle sales for both makers. (more…)