2021 Dodge Durango SRT Hellcat
Fiat Chrysler
DETROIT – Sales of Chrysler Pacifica minivans, Jeep Compass and Dodge Durango SUVs up Stellantis’ U.S. new vehicle sales in the second quarter rose 6.4% year-over-year.
The rise is one other sign of a rebound in demand for new vehicles as automotive and truck inventories recuperate from historical lows amid the coronavirus pandemic and provide chain issues.
Stellantis sales growth is predicted to be one of the lowest in the second quarter, in response to auto industry forecasters, who forecast industry sales to extend between 16% and 18% during this time in comparison with a yr earlier.
“We saw a rise in demand this quarter as market conditions proceed to enhance and our dealer network makes the needed changes to drive sales growth across our brand portfolio,” said Stellantis US Sales Manager Jeff Kommor. release on Monday.
Stellantis shares gained about 1.5% after this news.
Durango sales greater than tripled from low Q2 2022 results. Other vehicles that performed well include the Pacifica minivan, which saw a rise of 40%, and Jeep Compass sales increased by 28%. Most of the company’s other vehicles experienced a decline in sales in comparison with the previous yr.
Stellantis reported sales of 434,648 vehicles in the second quarter, compared with 408,521 cars and trucks a yr earlier.
Cox Automotive recently increased forecasts full-year new vehicle sales of as much as 15 million for the broader industry, a rise of nearly 8% from 2022, when sales ended at 13.9 million as a consequence of low inventory levels and inflated transaction prices.
Stellantis’ results come after other makers of older cars posted second-quarter sales gains and electric vehicle makers Tesla AND Rivian reported deliveries that exceeded analysts’ quarterly expectations.
Honda engine AND Nissan engine on Monday, the two posted double-digit second-quarter sales growth of around 45% and 33%, respectively, in comparison with a yr earlier. Hyundai engine said on Saturday that April-to-June sales were up about 14% from a yr earlier.
Other automotive manufacturers, resembling General Motors AND Ford engine it is predicted to post second quarter sales this week.