Chrysler Breaks U.S. Sales Record with 13% Gain

Strategic Insights -

Chrysler Corp. ended 1996 with a bang, achieving its highest U.S. sales level ever, surpassing its previous record set in 1988. The company's sales of 2.45 million vehicles and light trucks marked a 13% increase over 1995, a year that saw Chrysler sell 2.16 million vehicles. Meanwhile, General Motors Corp. suffered a 3% decline in sales, with 4.7 million light vehicles sold, down from 4.8 million in 1995.

Key Takeaways:

  • Chrysler's 1996 sales record was 13% higher than the previous year's sales, with 2.45 million vehicles and light trucks sold, exceeding its previous high of 2.21 million in 1988.
  • General Motors Corp. posted a 3% decline in sales, with 4.7 million light vehicles sold, down from 4.8 million in 1995, due to an unusually high number of new product launches and contract-related strikes.
  • Nissan's U.S. sales declined 2% in 1996, while Toyota's sales increased 6% on the strength of a 26% rise in truck sales.
  • Ford Motor Co. and Honda will report their sales figures on Monday.
  • Chrysler's car sales were up 4% in December, driven by year-end incentives for leftover 1996 models.
  • GM's December sales declined 14%, with a nearly 16% drop in truck sales and a 13% decline in cars.
  • Analyst David Andrea of Roney & Co. states that the soft truck sales at year's end were not a cause for concern, attributing it to the fluctuations in rebates, discount financing, and fleet sales.

Statistics:

  • Chrysler sold 2.45 million vehicles and light trucks in 1996, a 13% increase over 1995.
  • General Motors Corp. sold 4.7 million light vehicles in 1996, a 3% decline from 4.8 million in 1995.
  • Nissan's U.S. sales declined 2% in 1996.
  • Toyota's U.S. sales increased 6% in 1996, driven by a 26% rise in truck sales.
  • Chrysler's car sales were up 4% in December, while truck sales were flat.

Sources:

  • "Chrysler's Sales Rise 13%." The New York Times, January 5, 1997.
  • "General Motors' Sales Drop 3%." The New York Times, January 5, 1997.
  • "Nissan's Sales Decline 2%." The New York Times, January 5, 1997.
  • "Toyota's Sales Rise 6%." The New York Times, January 5, 1997.