Auto loan applications were approved in high volumes last month. Chrysler sales increased 13 percent when compared to July 2011, accounting for the comapany's best sales month since 2007. The Chrysler, Jeep, Dodge, Ram Truck, and FIAT brands each posted sales increases in July when compared to a year ago.
"July was another solid month for Chrysler Group as we again demonstrated our disciplined and methodical approach to growing sales and profits," said Reid Bigland, president and CEO of the Dodge brand and head of U.S. sales. "In July we recorded a 13 percent increase in sales and our 28th-consecutive month of year-over-year sales growth. In addition we also announced a second quarter modified operating profit of $755 million representing our highest quarterly profits in more than a decade."
Ford recently announced that its Fusion model had its best ever July sales, while the Explorer saw its strongest July in six years. Ford sold 23,326 Ford Fusion vehicles in July, up 21 percent on a year-over-year basis. The automaker sold 11,313 Ford Explorers, accounting for the best July sales since 2006.