Chrysler’s U.S. sales for March are tracking down 10 percent

Article by Christian Andrei, on August 29, 2010

Chrysler's US sales in March fell 10% from a year earlier after it recently cut back on discounts, Fred Diaz, who heads Chrysler's Ram brand and is also responsible for US sales. However, its retail sales have increased 50% from the same period in February.

At the sidelines of a company event, Diaz told reporters that consumer confidence is starting to grow's and that people are seeing that the company will be staying around and is sure to continue as a corporation.

Diaz also revealed that March 2010 sales are lower compared with the 101,001 units sold in March 2009, which is when it attempted to bring up sales with huge cash rebates a month before it filed for bankruptcy.

Diaz said that basically, Chrysler had operated as a supply-based company rather than a demand-based company.

He clarified that the company will not be offering heavy rebates and incentives any longer. Last June, Chrysler emerged from bankruptcy under the management of Italy's Fiat S.p.A.

In February 2010, Chrysler sold 84,449 vehicles  unchanged from the previous year. Nevertheless, this marks the first time in 25 months that Chrysler did not experience a year-to-year monthly sales drop.

Analysts think that for March 2010, US auto industry sales will rise sharply when compared to the same month the previous year. They attribute this to major carmakers raising their incentives after Toyota Motor Corp. launched unprecedented discounts to recover from a damaging recall crisis.

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