Chrysler Group LLC said Tuesday that U.S. auto sales rose by 20 percent in April, the strongest result in four years and another sign of a resurgent auto industry. (Photo : REUTERS)
Chrysler Group LLC said Tuesday that U.S. auto sales rose by 20 percent in April, the strongest result in four years and another sign of a resurgent domestic auto industry.
The increase outpaced an industry wide projection of 2.1 percent year-over-year growth by automobile website Edmunds.com. It was the 25th consecutive month of year-over-year sales increases.
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Auburn Hills, Mich.-based Chrysler, which is privately held, sold 141,165 vehicles in April, up from 117,225 the prior year. Truck sales rose 13 percent and car sales were up 37 percent.
“This business is all about product and the quality and fuel efficiency of our current vehicle lineup has never been better, which is evident in our results,” said Reid Bigland, head of Chrysler's U.S. sales.
Chrysler brand vehicles jumped 56 percent, the Dodge imprint ticked up 2 percent and Jeep sales rose 19 percent.
The company estimated a seasonally adjusted annual rate of 14.6 million vehicle sales in April. The automaker had a 59-day supply of inventory.
Italian car company Fiat SpA (Italy: F) is a majority stakeholder in Chrysler, which received a total of $12.5 billion from two bailouts by the U.S. federal government in the wake of the 2008 financial crisis.