Automakers See May Sales Slump

Executives hold hope for revival of battered industry

jeepwranglerchrysler

The Jeep Wrangler had strong retail sales in May, up 8% compared with last month. (Source: Chrysler)

Chrysler L.L.C.

Chrysler reported sales of 260,407 vehicles in May, a 47% decrease compared with May 2007. This comes after a U.S. bankruptcy court approved the sale of the majority of the automaker’s assets to a new company, Chrysler Group L.L.C. in alliance with Fiat S.p.A.

“Overall our sales were above expectations during this month of transition,” said Chrysler President Jim Press. “The uncertainty that has been surrounding Chrysler for the last few months is coming to an end, and a vibrant, new company is beginning to take shape,” Press added. “One that will better serve our customers and dealers with a broader and more competitive lineup of environmentally friendly, fuel-efficient, high-quality vehicles.”

The Jeep Wrangler had strong upward sales for the fifth month in a row, with May retail sales up 4% year-over-year, and up 8% compared with last month.

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