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Company reports October U.S. sales; continues aggressive customer discounts
Posted Monday, Nov 3, 2008 at 3:16 pm in Company News, Competitive Landscape

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Chrysler LLC today reported total October 2008 U.S. sales of 94,530 units, down 35 percent from the same month last year. Sales for October reflect an overall industry decline and reduced fleet sales.

“While October was a very tough month for everyone in this business, we as an industry must focus on the fact that there are still many serious car buyers out there, and every company has an equal opportunity to win their business,” Jim Press, Chrysler LLC Vice Chairman and President, said. “From a Chrysler perspective, we are pleased that despite this marketplace downturn, our critically important Dodge Ram launch is on schedule and our overall pickup truck share is on target. We look forward to rolling out the rest of our 2009 model year vehicles with improved quality and fuel economy and fighting for those customers who are in the market.”

October sales highlights

Sales for the light duty Dodge Ram (down 21 percent), which are still dominated by the sell-down of 2008 models, outperformed the market in October. Sales of the vehicle for the month reached 10,747 units, making it the company’s top-selling vehicle.

Jeep® Patriot sales increased 62 percent year-to-date (50,596 units) compared with the same timeframe in 2007 (31,248 units). October sales of the vehicle grew 2 percent versus September 2008 sales (3,252 units in October compared with 3,190 units in September).

The all-new Dodge Journey continues to make its mark in the crossover segment offering best-in-class fuel economy (19 mpg city/25 mpg highway) and award-winning seven-passenger interior utility. Dodge Journey sales totaled 4,380 units.

Dodge Challenger continues to draw a crowd. In October, 3,014 units were sold, marking a 27 percent increase from September 2008 sales.

The company finished the month with 395,996 units of inventory, or a 113-day supply. As part of a planned alignment with the market for in manufacturing production, inventory is down 16 percent compared with October 2007 when it totaled 469,426 units.

November incentives

In November, Chrysler will continue to offer the attractive incentive programs that were introduced last month. These deals provide customers an opportunity to take advantage of the remaining 2008 model year inventory at the best deals of the year. The incentive plan will focus on aggressive cash rebates up to $6,000 and discounted APR financing that drive lower monthly payments.

In addition to the significant cash incentives, in select markets some 2008 model year vehicles are available with a 0 percent APR for up to 72 months; and 2009 model year vehicles are available with a 1.9 percent to 4.9 percent APR for 72 months.

For returning lease customers, Chrysler will offer a Lease Loyalty allowance of up to $750 toward a new retail purchase. For consumers interested in leasing through independent financial institutions, Chrysler offers Bonus Cash of up to $2,000 on select 2008 model year vehicles.

Product highlights

Chrysler is modifying three 2009 model year vehicle lineups to provide an added emphasis on higher value and content, expanded availability of fuel efficient engines, and upgraded exterior appearance and improved interior materials. On Chrysler Sebring, Chrysler 300 and Dodge Avenger, Chrysler is providing customers with better equipped, fuel efficient entry-level models with a value emphasis.

These entry-level models have been upgraded to higher trim and content levels at discounted pricing. Also, availability of fuel efficient powertrains has been expanded on top-of-the-line models for those customers who want more product features without sacrificing fuel economy.

Of the total 2009 Chrysler, Jeep and Dodge lineup, 73 percent of the models achieved fuel-economy improvements over the 2008 offerings. The fuel economy improvements on these 19 models will potentially save American consumers as much as 6.7 million gallons of fuel per year.

Chrysler LLC celebrated the 25th anniversary of minivan sales today in Windsor, Ontario. The company remains the leading competitor in the segment, accounting for 40 percent of the minivan market (January-September 2008). Today, the company introduced the 2009 Chrysler Town & Country and Dodge Grand Caravan 25th Anniversary Editions to celebrate the minivan segment’s Silver Anniversary. The 25th Anniversary models will be available this winter as special editions of the 2009 Chrysler Town & Country and Dodge Grand Caravan.
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