Chrysler 2009 January Sales

February 4, 2009.
Chrysler LLC today reported total January 2009 U.S. sales of 62,157 units, down 55 percent versus the same month in 2008 (137,392 units), and down 31 percent from December 2008 (89,813 units). Total sales were suppressed by a significant reduction in fleet sales, which is aligned with the Company's sales strategy helping to maintain or improve the overall residual value of Chrysler vehicles for our customers. Fleet sales were down 81 percent for January compared to the same time last year.

“Chrysler LLC received the first $4 billion installment of our $7 billion bridge loan from the U.S. Treasury in early January,” said Jim Press, President and Vice Chairman – Chrysler LLC. “However, it wasn’t until later in the month that Chrysler Financial received its $1.5 billion loan, greatly enhancing its ability to support our dealers and provide credit to our customers. We were very encouraged and working closely with Chrysler Financial, were immediately able to introduce our zero percent financing for customers.”

Press emphasized the financial crisis still looms and must be modified to allow dealers to stock more vehicles and to provide customers with the financing to purchase those vehicles. “While the government has made funds available to stimulate the market, these funds carry limitations, including stringent lending guidelines and conduit restrictions. At the same time, many financial lenders are also operating with tighter standards and significantly increased reserves to hold their credit rating. All these factors have limited the amount of funds that the financial institutions can make available to consumers for the purchase of Chrysler vehicles, making it more difficult for us to close sales,” he said.