Chrysler Within Reach of Sales Targets, Reports Edmunds.com
SANTA MONICA, Calif. — April 21, 2010 —Edmunds.com, the premier online resource for automotive information, reports that Chrysler is within reach of its sales targets for the year.
"Fiat/Chrysler deserves a lot of credit for the progress made so far," commented Edmunds.com Senior Analyst Michelle Krebs, who provides more details in her report on AutoObserver.com. "It was questionable whether they'd survive 2010, but now the company seems to be on track for better days."
Some points are extremely promising for the company:
- The average Chrysler vehicle currently takes 66 days to be sold once it reaches the dealership. Last year, Chrysler averaged 109 days-to-turn.
- The average Chrysler is currently sold for about $1,500 below sticker price, not including incentives. Last year, Chrysler averaged a $3,000 discount.
- Chrysler's incentive program currently averages a cost of $3,309 per vehicle. Last year, the average True Cost of Incentives for Chrysler was $4,122 per vehicle.
- The company has some highly anticipated new vehicle introductions ahead. The 2011 Jeep Grand Cherokee, the Chrysler 300, the Chrysler Sebring and the Dodge Avenger have great potential.
However, there are still some hurdles:
- Chrysler set a goal of 1.1 million global sales, and they are on track — but only because they are selling many vehicles to daily rental fleets.
- Last month only 17 percent of Chrysler trade-ins were exchanged for new Chryslers. This is the lowest current loyalty rate among the major brands.
"It is important to consider Chrysler's cash position," noted Krebs. "The company needs cash reserves to finance much-needed future products if it is to continue on an upward trajectory."
About Edmunds Inc. (http://www.edmunds.com/about/)
Edmunds Inc. publishes four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value®, is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Inside Line launched in 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in 2006 and is an automotive social networking Web site. AutoObserver.com launched in 2007 and provides insightful automotive industry commentary and analysis. Edmunds Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.