Dodge Nitro Forum banner

1 - 2 of 2 Posts

·
Super Moderator
Joined
·
23,119 Posts
Discussion Starter #1
Chrysler exec says sales OK despite bankruptcy

05/20/09

DETROIT (AP) — A top Chrysler executive says the company is selling cars and trucks better than expected this month despite being under bankruptcy court protection.

Executive Vice President of Sales Steven Landry says that early data for May shows the company selling 60,000 to 70,000 vehicles to individual buyers during the month. It sold about 61,600 retail units in April before the bankruptcy filing.

Landry says retail sales will be down about 35 percent for the whole U.S. market compared with May of last year. He says Chrysler sales are expected to be down 40 percent.


LINK:The Associated Press: Chrysler exec says sales OK despite bankruptcy
 

·
Super Moderator
Joined
·
23,119 Posts
Discussion Starter #2
Chrysler sales outpacing rivals

May 20, 2009

Chrysler sales outpacing rivals



Chrysler LLC, working to shed most of its assets in bankruptcy, is selling cars at a higher rate than the U.S. industry this month as incentives of as much as $6,000 on each vehicle attract buyers.

Chrysler’s U.S. sales fell about 30 percent through May 18, less than a drop of as much as 33 percent for all automakers, said Gary Dilts, senior vice president of consumer-research firm J.D. Power & Associates, which collects data from 6,000 dealers.

The results are a win for Auburn Hills, Mich.-based Chrysler in its bid to keep revenue flowing and cut inventory until it exits court protection. The demand for Chrysler, Dodge and Jeep autos eased concern that bankruptcy would scare off consumers.

“We had a pre-bankruptcy target to hit, and it looks we are seeing pretty close to the industry for the month,” Steve Landry, Chrysler’s U.S. sales chief, said in an interview today. “It’s developing fairly well.”

Chrysler’s experience may also be good news for General Motors Corp., which faces a probable bankruptcy by June 1, the deadline set by President Barack Obama for the biggest U.S. automaker to restructure outside of court.

With U.S. auto sales plunging earlier in 2009 to the worst annual rate in 27 years, an automaker’s ability to outpace the market now counts as a victory, even with declines of 30 percent or more from a year earlier. Chrysler’s sales tumbled 48 percent last month as its April 30 bankruptcy filing neared, eclipsing the U.S. industry’s 34 percent slump.

J.D. Power, based in Westlake Village, California, collects information from dealers as they make sales. Automakers typically don’t discuss their sales in detail in mid-month.

Shrinking inventory

Chrysler’s goal is to drive down its supply of unsold cars, Landry said. The company’s factories will remain shut until mid- June or later, he said. By the end of June, its inventory may be 250,000 autos, 43 percent less than a year earlier.

Landry credited the company’s sales performance to the incentives and Obama’s assurance in a nationally televised address that Chrysler would survive.

Mickey Anderson, president of Performance Automotive Group in Omaha, Neb., said his Chrysler store there “is on pace” to outsell his Toyota Motor Corp. and Ford Motor Co. outlets.

“President Obama helped release a little bit of pent-up demand by clearly stating, ‘They are going to make it,’” Anderson said.

LINK:Chrysler sales outpacing rivals | APP.com | Asbury Park Press
 
1 - 2 of 2 Posts
Top