Chrysler Reports 12% Jump in Auto Sales

Retail Reuters

Chrysler Group LLC reported a 12 percent gain in U.S. August auto sales and predicted that the industry will continue on its hot streak as it heads into the fall selling season, when new models are introduced.

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Chrysler said that it expects a seasonally adjusted sales rate for August of 16.1 million vehicles, including medium and heavy trucks.

This overall sales rate would be in line with the 15.8 million forecast by 45 analysts surveyed by Thomson Reuters. Industry estimates exclude medium and heavy trucks, which typically account for 300,000 in annual sales.

Chrysler, a unit of Italy's Fiat SpA, said it sold 165,552 vehicles in August, which matched analysts' expectations. It was the 41st consecutive month that the company reported year-on-year U.S. sales gains.