November auto sales in the US
Previously, we looked at the November sales data of the top two US automakers (XLY)—General Motors (GM) and Ford (F). The data reflects that GM and Ford were able to grow their November retail sales, which should help these companies boost their profitability. Italian-controlled automaker Fiat Chrysler Automobiles (FCAU) is another auto giant that’s highly dependent on the US auto market.
In this part of our series, we’ll look at Fiat Chrysler’s November 2016 sales performance in the US market.
FCAU was formed in 2014 after the merger of Italian automaker Fiat SpA and American auto giant Chrysler. The company began trading on the NYSE on October 13, 2014.
Fiat Chrysler’s November sales
In November 2016, Fiat Chrysler’s (FCAU) total US sales fell ~14% to 160,827 vehicle units from 187,731 units in November 2015. Fiat Chrysler’s retail sales also dropped 2% YoY (year-over-year) to 126,780 units in November.
FCAU’s fleet sales witnessed a massive fall of ~42% YoY. These significant declines in its fleet sales were the primary factor behind the company’s overall lower US sales.
Strength in Ram truck sales
Despite major declines in the company’s total sales, Fiat Chrysler (FCAU) reported a solid YoY increase of 12% in its November Ram brand truck sales in the US. In contrast, the company’s Jeep brand sales fell 12% YoY for the same period. A decline in Jeep sales could result in lower 4Q16 margins for Fiat Chrysler.
The Ram and Jeep brands are the key strengths of Fiat Chrysler’s product portfolio. These two brands help the company maintain its position in the US pickup truck segment. Currently, Ford, GM, and Toyota (TM) are the major competitors for Fiat Chrysler in this segment.
Continue to the next part to learn about Toyota’s US auto sales in November 2016.