Why Fiat (FIATY) Stock Is Up Today

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:


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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.

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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FIATY Chart FIATY data by YCharts

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