Stellantis new vehicle sales jump 6.4% in second quarter

Detroit – Driven by increased sales of Chrysler Pacifica minivans, Jeep Compass and Dodge Durango SUVs Stellantis US new car sales in the second quarter increased 6.4% year-on-year.

The rise is another sign that demand for new vehicles is rebounding as car and truck inventories improve from historically low levels. coronavirus pandemic and supply chain issues.

Stellantis sales growth is expected to be among the slowest in the second quarter, according to auto industry forecasters, with industry sales up 16% to 18% over the same period last year. I predict.

“As market conditions continue to improve and our dealer network is making the necessary adjustments to drive sales growth across our brand portfolio, we are now pleased to announce that we Demand increased in the quarter,” he said. Released Monday.

Shares of Stellatis jumped about 1.5% on the news.

Durango sales more than tripled compared to a weak performance in the second quarter of 2022. Other strong-performing vehicles include the minivan Pacifica, which saw his 40% increase in sales, and the Jeep Compass, which saw his 28% increase in sales. Sales of most of the company’s other vehicles declined compared to the same period last year.

Stellantis sold 434,648 units in the second quarter, up from 408,521 passenger cars and trucks in the second quarter of last year.

Cox Automotive increased recently The company’s full-year new vehicle sales are expected to hit 15 million vehicles across the industry, up nearly 8% from 2022, when low inventory levels and higher transaction prices led to sales of just 13.9 million vehicles.

Stellantis’ results come after other traditional automakers reported higher sales in the second quarter and electric car makers announced. Tesla and Rivian report Exceeded shipments Analyst quarterly forecasts.

Honda Motor Co., Ltd. and Nissan Motor On Monday, both companies reported double-digit second-quarter sales growth of about 45% and 33%, respectively, compared to the same period last year. hyundai car said on Saturday that its sales for the April-June period were up about 14% year-on-year.

other car manufacturers general motors and ford motor The company plans to release its second-quarter sales figures later this week.