Chrysler Group Reports June Sales Up 30% From June 2010

- Chrysler Group Reports June Sales Up 30% From June 2010



Jul 1, 2011

Chrysler Group LLC reported U.S. sales of 120,394, a 30% increase over June of 2010 and its best month since 2007.

Reid Bigland, Head of U.S. Sales for Chrysler said, "Thanks to our alliance with Fiat, we now have 12 models that have EPA-rated highway fuel economy of 25 miles per gallon or higher, and four of those models get 30 mpg or more. This business is all about product and consumers are rapidly discovering everything we now have. Each Chrysler Group brand is contributing to our success and driving our 46 percent retail sales growth."

The company's Jeep brand posted a 74% year-over-year sales increase, the largest of Chrysler Group brands.

For the first six months of the year, Chrysler's sales are up 21% from 2010.

The company finished the month with a 68-day supply of inventory, 314,065 units. Chrysler estimates industry-wide sales figures for the month of June were at a seasonally adjusted annual rate of 11.8 million.

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Chrysler Fully Repays Government Loans, Fiat Stake Increases To 46%

Chrysler Fully Repays Government Loans, Fiat Stake Increases To 46%



May 24, 2011

Chrysler said today it has fully repaid the U.S. and Canadian governments, more than six years earlier than it was required to, making final payments of $5.9 billion to the U.S. Treasury and $1.7 billion to the governments of Canada and Ontario.

"Less than two years ago, we made a commitment to repay the U.S. and Canadian taxpayers in full and today we made good on that promise," Chrysler and Fiat CEO Sergio Marchionne said in a statement today.

Mr. Marchionne noted that Chrysler repaid its bailout loans faster than the last time the company got a bailout from the federal government back in the late 1970's when Lee Lacocca led the company.

As a result of the repayment, Fiat's stake in Chrysler will rise to 46%, putting the company close to its goal of 51% by the end of 2011. Once Chrysler develops a vehicle that gets 40 miles per gallon on a Fiat platform, a development expected in the fourth quarter, Fiat can increase its stake to 51%.

Chrysler paid more than $1.2 billion in interest on its debt in 2010, and is swapping out government debt with cheaper debt from institutional investors. The refinancing will not reduce the company's debt load, but will save the company more than $300 million a year in interest expenses.

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