Jeep Posts Biggest Ever Quarterly Sales Total in US
Fiat Chrysler Automobiles said strong North American sales and brisk worldwide Jeep sales propelled the company to a $364 million profit in the second quarter of 2015, despite record fines from the federal government.
Overall, the company earned a pre-tax profit of $1.4 billion, which is double the $650 million it made in the same quarter last year, the Detroit Free Press reported.
The earnings beat expectations for the company, whose profit margins are still below the other domestic automakers. FCA reports its margin was 7.7 percent in the second quarter, up from 4.9 percent last year, but well behind the double-digit margins of Ford and General Motors.
FCA chief Sergio Marchionne delivered the results in London on Thursday. Wall Street responded at 11:30 a.m. ET by boosting the automaker’s shares by nearly 5 percent.
Executives said the Jeep brand was up 19 percent in the U.S. over the quarter, buoyed by record sales of the Wrangler and other models, which was the brand’s best-ever showing, according to Business Insider.
In Europe, FCA posted a $62 million profit, compared to no profit from the same time a year ago. The global automaker said it expects to ship 4.8 million cars by the end of the year.
I can't believe how many of those 4 door abominations they somehow call a "Wrangler" Chrysler moves. I actually assumed maybe they just quit making 2 door models, because I see none here in the OC. Plus, I've only seen one guy rolling the 4 door with no doors or top. One. So, you don't want to go offroad because you bought a fucking whale, you don't care that the top and doors come off...why the fuck didn't you just buy a Grand Cherokee then? And this my friends is why I'm not in the business. I would have laughed down a 4 door Wrangler in every meeting ever, and I probably still would.
If FCA is looking to merge with anyone then Tata motors must be its best bet. A Land Rover / Jeep combination would mean that both companies benefit significantly from parts sharing and they'd corner the market in SUVs selling at both the lower and top ends of the market. Jaguar/ Alfa would also benefit from the same points. Fiat meanwhile could help Tata at home. I'm still not sure the Tata really want to take a gamble on FCA because it comes with Fiat but realistically a FCA Tata merger is probably about the best deal FCA could do right now.
I moved to New Jersey four years ago. The volume of Jeep Wrangler owners I see is astonishing. They don't need to change a thing there. The Grand Cherokee is also a hit in the style department despite not being cheap when fully loaded out. I don't think there is a american brand name that means more than Jeep.
Right, but how many will they have to buy back in a few years? (Couldn't resist.)