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Fiat
Chrysler stretched its streak of consecutive months of
year-over-year sales gains, reporting a 3 percent rise in
November, based on the strength of its SUV brand Jeep, which
jumped 20 percent, the company said.
Reid Bigland, head of U.S. sales for Fiat Chrysler, cited low
interest rates, cheaper gasoline and higher employment as
reasons for the strong showing of the company and the industry
in November.
The Jeep brand increased consumer incentives by 44 percent in
November from the previous year, one of the most generous in the
industry, according to TrueCar Inc.
Fiat Chrysler expects U.S. November auto sales on a seasonally
adjusted annualized rate to be 18.4 million vehicles including
medium and heavy trucks.
More than 40 economists and analysts polled by Thomson Reuters,
on average, expected November sales at 18.1 million vehicles on
an annualized basis, and the range of estimates by the
forecasters was from 17.5 million to 18.6 million vehicles.
(Reporting by Bernie Woodall; Editing by Jeffrey Benkoe)
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