Sales of the Chrysler 300 fell 35% to 5,023 units. Year-to-date sales are down 18% to 10,348.
Chrysler spokesman Ralph Kisiel said,"Retail sales of that model were down only 6%, so it primarily is a fleet issued."
The decline is also "linked to gas prices, which were up from $3.46 a gallon to $3.72 in one month," Toprak said. "There's a very strong correlation between gas prices and large sedans."Some Chrysler buyers were evidently pushed to the smaller Chrysler 200. Its sales sale rose 18% to 11,446 in February and year-to-date are up 21% to 20,292. Overall Chrysler Group sales rose 4% to 139,015 in February. "We warned at the end of 2012 that Chrysler's big year-over-year gains would slow down, and that's exactly how it's unfolded so far this year," said Edmunds' Krebs. "Still, Chrysler managed to have its biggest February in five years."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts