The sales numbers that have come from Fiat Chrysler Automobiles NV (NYSE:FCAU) are even better than expected, while the automaker’s rivals, General Motors Company (NYSE:GM) and Ford Motor Company (NYSE:F), are not even expected to come anywhere close to Chrysler in terms of November sales. The figures were the topic of discussion between Betty Liu, Matt Miller and Julie Hyman on Bloomberg.
“[…] Chrysler had had really strong numbers continually, as I said before, this was the 56th consecutive month of growth for Chrysler, and Jeep, you are looking at one of the main reasons why they had such strong sales. The Jeep Cherokee sales have been amazing as have Wrangler sales. They are selling even a lot more of their cheaper like Chrysler offerings like 200, for example was up 155%, compared to last November, so you know I was looking at about 20%, they came out with 21% […],” said Miller.
As for Fiat Chrysler Automobiles NV (NYSE:FCAU)’s competitors, Miller revealed that their performance is not going to top the 21% mark. In fact it will not even come close to it. According to him, General Motors Company (NYSE:GM) is estimated to be in the green and post a gain of 2.6% while it is anticipated that Ford Motor Company (NYSE:F) will be in the red for 2% dip in sales owing to the changeover relating to the production of their new trucks, F 150.
Fiat Chrysler Automobiles NV (NYSE:FCAU) has benefitted from the replacement cycle, according to Hyman. Hence, even though the middle class might have been squeezed the people just have to simply change their cars, because they are just too old.
However, this doesn’t explain the why the numbers for the Jeep models did so well for Fiat Chrysler Automobiles NV (NYSE:FCAU). Miller explained that this is probably because of all the leasing options and the sub prime auto loans that are available for financing such purchases nowadays.
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