Chrysler Group LLC has reported sales results for August. Sales increased 14% compared to August 2011 and it was the 29th consecutive month of year-over-year sales gains. It was Chrysler’s best August since 2007.
For Chrysler, this represented a continuation of the string of good news since it emerged in 2009 from the bankruptcy of Chrysler Corporation after the economic crisis of 2008. It has achieved profitability, won a number of quality awards and as noted recorded year-on-year sales increases for 29 consecutive months. It’s marketing team is also winning praises, putting out such memorable commercials as Clint Eastwood’s 2012 Super Bowl ad “It’s Halftime in America”.
As to the government-backed bankruptcy, government loans have been repaid and shares held by the U.S. Treasury re-purchased. Chrysler is currently owned 58.5% by Fiat S.p.A. of Italy and 41.5% by United Auto Workers’ Retiree Medical Benefits Trust. Fiat has announced plans to buy an additional 3.3%.
The August sales increase was led by the Fiat brand with a 34% increase, the Chrysler brand with a 25% increase and the Ram Truck brand with an 18% increase. As to individual models, sales of the all-new Dodge Dart were up 294% over July.
On the company’s website, Reid Bigland, President and CEO – Dodge Brand and Head of U.S. Sales, was quoted as saying “Our hard work over the past few years is starting to pay some dividends in our sales growth, quality awards and profitability. Not to mention, an incredibly resilient U.S. new vehicle sales industry doesn’t hurt either.”