NEW YORK (TheStreet) -- Shares of Fiat (FIATY) are higher by 2.47% to $9.97 in late afternoon trading after its Chrysler unit reported a 20% increase of vehicle sales in the U.S. to 198,379 units in August from 165,552 units reported in August of last year, above the 12% growth analysts' estimated.
Watch the video below for a closer look at U.S. auto sales for August:
The third largest U.S. auto maker, Chrysler which merged with the Italian automaker Fiat S.p.A, reported the best August sales since 2002.
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Fiat said the better than expected sales are due to the company's primary global Jeep brand, with a 49% surge in unit sales, and the Ram pickup trucks with a 33% growth in unit sales.
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