Chrysler LLC Reports November 2008 U.S. Sales; Continues Aggressive Customer Discounts
-- All-new Dodge Ram sales continue to gain momentum -- Jeep(R) Liberty sales increased 6% compared to October 2008 -- Chrysler's U.S. retail market share increased 0.6 percentage points in November -- Fleet sales decreased 63%; Retail sales remain aligned with industry -- Additional incentives and financing arrangements designed to support customers during the continued credit crisis
AUBURN HILLS, Mich., Dec 02, 2008 /PRNewswire via COMTEX/ -- Chrysler LLC today reported total November 2008 U.S. sales of 85,260 units, down 10% versus October 2008 (94,530 units), and down 47% from the same month last year. Inside these total numbers, fleet sales decreased 63% versus last November, as planned, and retail sales were in line with the retail industry (down 36%). The company's U.S. retail market share increased 0.6 percentage points in November.
"2008 will go down as unlike any other year in the industry, and thus, comparisons to 2007 sales have become irrelevant," said Jim Press, Chrysler LLC Vice Chairman and President. "In this environment, we need to evaluate sales based on month-to-month trends, with the last two months of the year being especially important to determine if we have established a base for sales in 2009. Our goal is to fight to maintain our share of the retail market month-to-month by keeping a strong advertising and incentive presence in the marketplace and finding financing solutions for our customers, roughly 75% of whom finance their vehicles with dealer assistance."
November's industry sales declines reflect the combined impact of weak consumer confidence and tight credit, and highlight the need for government action. This week Chrysler LLC will present its Viability and Accountability Plan in detail to Congress regarding the Company's request for an immediate working capital bridge loan.
November Sales Highlights
Sales for the all-new 2009 light duty Dodge Ram increased as it makes its way to dealerships across the country. While the sell-down of the previous model continues as planned, sales of the 2009 model for the month reached 1,958 units, up 72% versus last month. Compared to October 2008, total Dodge Ram sales were down 12% (15,538 units), performing better than the industry overall.
Jeep(R) Liberty sales in November increased 6% (4,171 units) compared to October 2008 (3,918 units).
The all-new Dodge Challenger continues to draw attention. Sales of the vehicle reached 3,364 units in November, a 12% increase over October 2008 sales.
The Company finished the month with 399,724 units of inventory, or a 117- day supply. Inventory is down 17% compared with November 2007, when it totaled 480,424 units.
December Incentives
Chrysler remains committed to supporting customer needs for financing and incentives during the current economic conditions. Current deals provide customers an opportunity to take advantage of solid offers on 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 on 2008 models, up to $3,000 on 2009 models and discounted APR financing that drive lower monthly payments.
In addition to the significant cash incentives, in several markets some 2008 model year vehicles are available with a 0% APR for up to 72 months; and 2009 model year vehicles are available with an APR as low as 1.9% for up to 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.
About Chrysler LLC
Chrysler LLC, headquartered in Auburn Hills, Mich., produces Chrysler, Jeep(R), Dodge and Mopar(R) brand vehicles and products. Total sales worldwide in 2007 were 2.7 million vehicles. Sales outside of North America were the highest ever with an increase of 15 percent over 2006. Its product lineup features some of the world's most recognizable vehicles, including the Chrysler 300 and Town & Country, Jeep Wrangler and Grand Cherokee and Dodge Challenger and Ram. The Chrysler Foundation, the company's philanthropic arm, annually supports hundreds of charitable organizations in the United States and throughout the world. In 2007, the Foundation gave approximately $21 million in charitable donations.
Chrysler LLC U.S. Sales Summary Thru November 2008
Month Sales Vol %
Model Curr Yr Pr Yr Change
Sebring 2,891 8,708 -67%
300 3,423 11,512 -70%
Crossfire 92 193 -52%
PT Cruiser 3,597 6,769 -47%
Aspen 2,013 1,515 33%
Pacifica 544 4,184 -87%
Town & Country 7,457 12,629 -41%
CHRYSLER BRAND 20,017 45,510 -56%
Compass 880 2,683 -67%
Patriot 2,461 4,199 -41%
Wrangler 6,140 8,333 -26%
Liberty 4,171 6,813 -39%
Grand Cherokee 5,203 8,489 -39%
Commander 1,447 4,391 -67%
JEEP BRAND 20,302 34,908 -42%
Caliber 2,755 6,313 -56%
Avenger 2,362 10,242 -77%
Charger 5,478 10,341 -47%
Challenger 3,364 0 0%
Viper 61 5 1120%
Magnum 48 2,417 -98%
Dakota 1,760 3,257 -46%
Ram P/U 15,538 24,488 -37%
Journey 2,815 0 0%
Caravan 6,055 13,347 -55%
Durango 1,662 3,190 -48%
Nitro 1,804 5,795 -69%
Sprinter 1,239 1,275 -3%
DODGE BRAND 44,941 80,670 -44%
TOTAL CHRYSLER LLC 85,260 161,088 -47%
TOTAL CAR 20,475 50,088 -59%
TOTAL TRUCK 64,785 111,000 -42%
Selling Days 25 25
Sales CYTD Vol %
Model Curr Yr Pr Yr Change
Sebring 68,091 83,856 -19%
300 58,645 110,686 -47%
Crossfire 1,911 8,594 -78%
PT Cruiser 49,087 89,847 -45%
Aspen 20,739 25,766 -20%
Pacifica 6,771 51,938 -87%
Town & Country 110,411 123,940 -11%
CHRYSLER BRAND 315,655 494,627 -36%
Compass 24,124 36,196 -33%
Patriot 53,057 35,447 50%
Wrangler 77,567 110,236 -30%
Liberty 62,382 82,164 -24%
Grand Cherokee 68,174 109,184 -38%
Commander 25,506 57,206 -55%
JEEP BRAND 310,810 430,433 -28%
Caliber 81,262 92,228 -12%
Avenger 59,913 75,658 -21%
Charger 91,953 108,174 -15%
Challenger 14,821 0 0%
Viper 1,020 389 162%
Magnum 6,881 27,978 -75%
Dakota 24,343 47,829 -49%
Ram P/U 229,222 326,177 -30%
Journey 42,822 0 0%
Caravan 116,822 154,824 -25%
Durango 19,985 43,023 -54%
Nitro 34,332 67,475 -49%
Sprinter 13,468 14,934 -10%
DODGE BRAND 736,844 960,167 -23%
TOTAL CHRYSLER LLC 1,363,309 1,885,227 -28%
TOTAL CAR 385,590 519,586 -26%
TOTAL TRUCK 977,719 1,365,641 -28%
Selling Days 282 281
SOURCE Chrysler LLC
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