FCA US reports big drop in sales

FCA US reported a drop in sales for the second quarter (April through June) of 2022, compared with Q2 2021. Fleet sales rose as a percentage of the total, as retail sales fell by 24% and total sales fell by just 16%. Despite this, FCA US actually did well against its peers and may have picked up some market share:

  • Toyota fell by 23%
  • GM dropped by 15%
  • Hyundai-Kia fell by 19%
  • Honda crashed by a stunning 51% and Mazda by 43%
  • Nissan plummeted by 37%;
  • Subaru fell by 18%.
  • Volkswagen rose by 3% and Ford hasn’t reported in yet.

The one brand to make it through without problems was Chrysler, which saw sales nearly double. Other bright spots were sharp rises in Jeep Compass (54%) and commercial vehicles (13%); the Wrangler 4xe held onto its best-selling plug-in hybrid spot. Overall, FCA US sold 408,521 vehicles in the second quarter. The U.S. head of sales blamed supply constraints, saying demand was strong.

Jeep dropped 11%, with Cherokee and Renegade taking the biggest hits; Wrangler sales fell by 22%. Ram sales fell by 27%, with ProMaster the only bright spot—falling just 12%. Chrysler sales increases were all Pacifica, rising from 13,229 to 32,097, a 143% increase; 300 dropped 15% to 4,837. Dodge dropped a stunning 30%, though part of that is the loss of the Journey and Caravan, both discontinued; they sold 45 Journeys, down from 5,885, and 3 Caravans, down from 1,158. Charger actually saw a 3% gain and Challenger fell by just 3%. Durango sales fell by 66%.

Fiat had its usual awful quarter , thanks partly to the dropping of two of its three cars; the remaining 500X fell from 403 to 245 sales, giving Fiat a total of 249, down from 891 (over three months). Alfa Romeo, with no such excuse, saw sales fall by 39%, from 5,018 to 3,083.

The new Jeeps did reasonably well for their prices: Wagoneer sold 10,220 and Grand Wagoneer sold 3,932. The Wagoneer sold better than the cheap Renegade or even the midrange Cherokee, which many believe will be dropped in mid-2023.

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