Chrysler joins Ford beating sales estimates of US

MICHIGAN/LOS ANGELES: Chrysler Group and Ford Motor Co. said US sales rose more than analysts' estimates in August as the automakers prepare new car models such as the Dodge Dart and Ford Fusion to build on gains earlier this year.

Chrysler deliveries last month increased 14 per cent, the Auburn Hills, Michigan-based company said yesterday in a statement. The automaker exceeded the 9.9 per cent gain that was the average estimate of 10 analysts surveyed by Bloomberg. Ford sales rose 13 per cent, topping the 8.5 per cent increase that was the average of 10 estimates.

US light-vehicle sales probably rose 18 per cent this month to 1.27 million, the average estimate of nine analysts surveyed. Chief Executive Officer Sergio Marchionne is counting on a steady climb in demand for Dart, introduced in June, as Chrysler continues to update its lineup.

"We expect Chrysler to continue to gobble up incremental share in the compact-car segment,-? Alec Gutierrez, an analyst at Irvine, California-based auto-market researcher Kelley Blue Book, said before the results were released.

"Chrysler is still trying to get enough selection of variety out to their dealers to satisfy demand. Their product portfolio has improved.-?

Chrysler, the automaker controlled by Fiat SpA, said deliveries of the Dart almost quadrupled from a month earlier to 3,045, helping extend its streak of US sales gains to 29 months. Ford, introducing a new Fusion sedan in the second half of this year, said the model set a sales record for the month of August at 21,690.

The seasonally adjusted annualised rate of light-vehicle sales may accelerate to 14.2 million, the average estimate of 15 analysts, from 14.1 million in July and 12.5 million a year earlier. The average estimate of 35 economists in a separate Bloomberg News survey was for a 14.2 million pace.

Economist estimates ranged from 13.9 million to 14.7 million. Chrysler forecast an industry sales rate of 14.6 million in its statement. That estimate includes medium-and heavy-duty vehicles.

that usually account for at least 200,000 deliveries on an annualised basis.

Chrysler last month idled a Toledo, Ohio, assembly plant to prepare for making a replacement to its Jeep Liberty sport- utility vehicle next year. The company's Toledo North factory halted production on August 16 and begins shipping the new model in 2013's second quarter.

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