Chrysler Group LLC's January U.S. sales climbed 23% on continued
gains in truck sales, although the auto maker's car sales slid.
It was the 10th-consecutive month Chrysler reported overall
growth from prior-year levels. Sales in 2010 grew 17% on year,
rebounding from the 36% decline seen in 2009.
Earlier Tuesday, Detroit peers General Motors Co. (GM) and Ford
Motor Co. (F) and Japan's Nissan Motor Co. (NSANY, 7201.TO) each
reported a double-digit increase in January sales, with the trio
benefiting from sales of larger vehicles. Car-shopping website
Edmunds.com last week estimated the top six auto makers would each
report double-digit increases in sales for the month.
Chrysler, meanwhile, reported it sold 70,118 vehicles in
January, up from 57,143 a year ago but falling 30% from December.
Truck sales increased 38%, while car sales were down 22%.
Sales of the larger Dodge brand grew 20%, and jumped 47% for the
Jeep brand. The namesake line's sales decreased 7%.
The month had 24 selling days, the same as last year.
Chrysler finished the month with a 89-day supply of inventory.
It also estimated the industry's U.S. sales in January at a
seasonally annualized rate of 12.8 million. Earlier Tuesday, GM
estimated U.S. sales were around 12.7 million for the month.
Chrysler on Monday reported its fourth-quarter loss narrowed
sharply as revenue jumped, although results were hurt by the heavy
interest the company pays on its government loans. Chief Executive
Sergio Marchionne predicted Chrysler would return to profitability
this year.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com