FCA US Reports March 2019 Sales

AUBURN HILLS, Mich., April 2, 2019 /PRNewswire/ --

• Ram pickup reports new March record as sales increase 9 percent to 45,187 sold
• Jeep® Grand Cherokee notches best March ever as sales rise 26 percent to 24,655 vehicles sold
• Ram brand sets new March record as sales jump 15 percent to 51,822 sold

FCA US LLC reported a new March record for the Ram brand as sales jumped 15 percent, underscoring the success the company has found in its two-pronged strategy of selling both the Ram 1500 and Ram Classic.

The performance of the Ram brand, combined with a new March record for Jeep® Grand Cherokee, countered general softness within the industry. FCA sold 200,307 vehicles in the month.

"The industry had a tough first quarter but with spring finally starting to show its face and continued strong economic indicators -- such as a boost in housing sales, lower lending rates and a strong labor market -- we are confident that new vehicle sales demand will strengthen going forward," U.S Head of Sales Reid Bigland said. "Meanwhile, our Ram brand sales and average transaction prices continue to be strong and our much-anticipated, game-changing Jeep Gladiator pickup is on track for its in-market debut this month."

See the attached table for the breakdown of brand and nameplate sales.

Method of Determining FCA US LLC's Monthly Sales. FCA US's reported vehicle sales represent unit sales of vehicles to retail customers, deliveries of vehicles to fleet customers and to others such as FCA US's employees and retirees as well as vehicles used for marketing. Most of these reported sales reflect retail sales made by dealers out of their own inventory of vehicles previously purchased by them from FCA US. Reported vehicle units sales do not correspond to FCA US's reported revenues, which are based on FCA US's sale and delivery of vehicles, and typically recognized upon shipment to the dealer or end customer. As announced on July 26, 2016, FCA US has modified its methodology for monthly sales reporting as follows:

• Sales to retail customers by dealers in the U.S. are derived from the New Vehicle Delivery Report ("NVDR") system and are determined as the sum of (A) all sales recorded by dealers during the month net of all unwound transactions recorded to the end of that month (whether the original sale was recorded in the current month or any prior month); plus (B) all sales of vehicles during that month attributable to past unwinds that had previously been reversed in determining monthly sales (in the current or prior months).
• Fleet sales are recorded upon the shipment of the vehicle by FCA US to the customer or end user.
• Other retail sales are recorded either (A) when the sale is recorded in the NVDR system (for sales by dealers in Puerto Rico and limited sales made through distributors that submit NVDRs in the same manner as for sales by U.S. dealers) or (B) upon receipt of a similar delivery notification (for vehicles for which NVDRs are not entered such as vehicles for FCA employees).

About FCA US LLC

FCA US LLC is a North American automaker based in Auburn Hills, Michigan. It designs, manufactures, and sells or distributes vehicles under the Chrysler, Dodge, Jeep®, Ram, FIAT and Alfa Romeo brands, as well as the SRT performance designation. The Company also distributes Mopar and Alfa Romeo parts and accessories. FCA US is building upon the historic foundations of Chrysler Corp., established in 1925 by industry visionary Walter P. Chrysler and Fabbrica Italiana Automobili Torino (F.I.A.T.), founded in Italy in 1899 by pioneering entrepreneurs, including Giovanni Agnelli. FCA US is a member of the Fiat Chrysler Automobiles N.V. (FCA) family of companies. (NYSE: FCAU/ MTA: FCA).

This press release contains forward-looking statements. These statements are based on FCA's current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: volatility and deterioration of capital and financial markets, including possibility of new Eurozone sovereign debt crisis, changes in commodity prices, changes in general economic conditions, economic growth and other changes in business conditions, weather, floods, earthquakes or other natural disasters, changes in government regulation, production difficulties, including capacity and supply constraints, and many other risks and uncertainties, most of which are outside of FCA's control.

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SOURCE FCA US LLC