2021 Dodge Durango SRT Hellcat
Fiat Chrysler
DETROIT – Higher sales of the Chrysler Pacifica minivan and Jeep Compass and Dodge Durango SUVs pushed Stellantis’ second-quarter U.S. recent vehicle sales up 6.4% from a 12 months earlier.
The uptick is one other sign of demand for brand new vehicles rebounding, as inventories of cars and trucks improve from historically low levels through the coronavirus pandemic and provide chain problems.
Stellantis’ sales increase is anticipated to be among the many lowest of the second quarter, in accordance with auto industry forecasters who project industry sales to have increased 16% to 18% during that point compared with a 12 months earlier.
“We saw increased demand this quarter as market conditions proceed to enhance and our dealer network makes the obligatory adjustments to drive sales growth across our brand portfolios,” Stellantis’ U.S. head of sales, Jeff Kommor, said in a release Monday.
Shares of Stellantis gained about 1.5% after the news.
Sales of the Durango greater than tripled compared with subdued results through the second quarter of 2022. Other vehicles that performed well included the Pacifica minivan jumping 40% and sales of the Jeep Compass increasing 28%. Many of the company’s other vehicles experienced sales declines compared with a 12 months earlier.
Stellantis reported second-quarter sales of 434,648 vehicles, up from 408,521 cars and trucks a 12 months earlier.
Cox Automotive recently increased its full-year recent vehicle sales forecast to fifteen million for the broader industry, a gain of nearly 8% from 2022, when sales finished at 13.9 million as a consequence of low inventory levels and inflated transaction prices.
Stellantis’ results come after other legacy automakers reported second-quarter sales increases, and electric vehicle makers Tesla and Rivian reported deliveries that topped analyst quarterly expectations.
Honda Motor and Nissan Motor on Monday each reported double-digit second-quarter sales increases of roughly 45% and 33%, respectively, compared with a 12 months earlier. Hyundai Motor said Saturday its sales from April through June were up about 14% compared with a 12 months earlier.
Other automakers equivalent to General Motors and Ford Motor are expected to report second-quarter sales later this week.
