Fiat Chrysler and FoMoCo Reported Best April Sales in a Decade
$FCAU, $F, $GM, $VLKAY
Fiat Chrysler Automobiles NV (NYSE:FCAU), and Ford Motor Company (NYSE”F) reported their best April sales in a decade, while General Motors Company’s (NYSE:GM) April sales dropped slightly, the Detroit News reported Tuesday.
Fiat Chrysler sold 199,631 cars and trucks in April, up 5.6 percent from 189,027 sales in April 2015, and also the strongest April sales of the automaker in 11 years.
Its Jeep and Ram Truck brands reported double-digit sales growth of 17.5% and 12.1%, respectively; but Dodge sales declined 3%, and Chrysler and Fiat sales declined 17.5 and 18.7%, respectively.
Fiat Chrysler’s US sales grew 18% Y-Y in the 1st 4 months of this year.
Ford’s sales grew 4% in April to reach 231,316 vehicles, thanks to continued strong consumer demand for its F-Series trucks, which rose 12.6%. Ford’s truck sales rose 14.8%, SUV sales rose 7.7%, and car sales dropped 12%.
GM reported a 3.5% loss in sales Y-Y in April, with daily rentals down 39%. The automaker sold 259,557 cars and trucks in April, with its retail sales up about 3% Y-Y, but daily rental sales down nearly 18,000 vehicles.
Buick, Chevrolet and GMC all experienced a 3.5% or smaller decline in sales in April this year, while Cadillac’s sales dropped 28.9%.
Sales of the 3 US major automakers were in line with analyst expectations.
Nissan North America is set to maintain momentum with an 11.1% increase in sales in April; Honda is expected to report double-digit gains from a year ago; only Volkswagen Group (OTCMKT:VLKAY) is expected to lose sales, with the losses being single digit.
Led by sales of pickups, SUVs (sport utility vehicles) and crossovers, automakers sold 17.47-M vehicles in Y 2015, a 5.7% increase from Y 2014 and better than the previous record of 17.41-M set in Y 2000, according to the data.
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