Chrysler December U.S. Sales Rise 6% - Update

(RTTNews) - Chrysler Group LLC, majority-owned by Italian carmaker Fiat SpA (FIATY.PK), Friday said its U.S. vehicle sales for the month of December 2013 increased 6 percent from last year, and noted that this is the 45th-consecutive month of year-over-year sales gains.

Reid Bigland, Head of U.S. sales said, "Our Jeep and Ram Truck brands had a strong finish led by the all-new 2014 Jeep Cherokee and the Ram pickup truck, Motor Trend's 2014 Truck of the Year. Sales of the new Cherokee topped 15,000 units in December as our newest SUV continues its solid sales performance out of the gate."

Chrysler's total vehicle sales for the month increased to 161,007 units from 152,367 units in the same month last year.

Total car sales fell 17 percent to 37,749 units from last year's 45,289 units. However, total truck sales for the month climbed 15 percent to 123,258 units from 107,078 units in the previous year.

The company said that the Jeep and Ram Truck brands each posted double-digit percentage sales gains in December compared with the same month a year ago. The Jeep brand's 34 percent increase was the largest sales gain of any Chrysler Group brand during the month. FIAT brand sales were up 1 percent from the preceding year.

Chrysler brand sales were down 21 percent in December, but sales of the Chrysler Town & Country minivan increased 5 percent from a year earlier.

For full year 2013, Chrysler Group U.S. sales increased 9 percent, representing fourth-consecutive year of annual sales growth.

On Wednesday, Fiat SpA struck a deal with the UAW Retiree Medical Benefits Trust or VEBA Trust, to buy the remaining 41.46 percent stake in the US automaker Chrysler Group LLC not currently held by it for $3.65 billion. The deal is expected to close on or before January 20, 2014.

The total consideration consists of a direct cash payment of $1.75 billion from Fiat, and a special distribution payable by Chrysler Group to its members totaling about $1.90 billion.

Prior to this deal, Fiat owned the 58.5 percent of Chrysler, while the VEBA Trust owned the remaining 41.5 percent. Chrysler's results were consolidated by Fiat Group since June 2011.

FIATY closed Thursday's regular trading session at $9.55, up 15.06 percent.