Dodge Durango, Jeep SUVs push Stellantis second-quarter sales up 6.4%

DETROIT – Higher income of the Chrysler Pacifica minivan and Jeep Compass and Dodge Durango SUVs pushed Stellantis' second-quarter U.S. caller conveyance income up 6.4% from a twelvemonth earlier.

The uptick is different motion of request for caller vehicles rebounding, arsenic inventories of cars and trucks amended from historically debased levels during the coronavirus pandemic and proviso concatenation problems.

Stellantis' income summation is expected to beryllium among the lowest of the 2nd quarter, according to car manufacture forecasters who task manufacture income to person accrued 16% to 18% during that clip compared to a twelvemonth earlier.

"We saw accrued request this 4th arsenic marketplace conditions proceed to amended and our trader web makes the indispensable adjustments to thrust income maturation crossed our marque portfolios," Stellantis U.S. caput of income Jeff Kommor said successful a release Monday.

Shares of Stellantis were up astir 1.5% aft the news.

Sales of the Durango much than tripled compared to subdued results during the 2nd 4th of 2022, portion income of the Pacifica minivan jumped 40% and income of the Jeep Compass accrued 28%. Most of the company's different vehicles experienced income declines compared to a twelvemonth earlier.

Stellantis reported second-quarter income of 434,648 vehicles, up from 408,521 cars and trucks a twelvemonth earlier.

Cox Automotive recently increased its full-year new-vehicle income forecast to 15 cardinal for the broader industry, a summation of astir 8% from 2022, erstwhile income finished astatine 13.9 cardinal owed to debased inventory levels and inflated transaction prices.

Stellantis' results travel aft different bequest automakers reported second-quarter income increases, and electrical conveyance makers Tesla and Rivian reported deliveries that topped expert quarterly expectations.

Honda Motor and Nissan Motor connected Monday some reported double-digit second-quarter income increases of astir 45% and 33%, respectively, compared to a twelvemonth earlier. Hyundai Motor said Saturday its income from April done June were up astir 14% compared to a twelvemonth earlier.

Other automakers specified arsenic General Motors and Ford Motor are expected to study 2nd 4th income aboriginal this week.