Fiat Chrysler Sales Streak May Come to an End; CEO Wants Merger

The end of August may also mean the end of a five-year winning streak of U.S. sales for Fiat Chrysler (FCAU). The automaker's sales are projected to fall by 3.2-percent in August, following 64 consecutive months of year-over-year gains, according to Kelley Blue Book. Analysts point to a calendar quirk for the drop, instead of a softening of consumer demand. The quirk is caused by a later-than-usual Labor Day this year. The industry's biggest holiday weekend will count toward September's results. For the past three years, it's been part of August. In 2014, the three-day Labor Day weekend made up 20-percent of sales for the month. Separately, Fiat Chrysler CEO Sergio Marchionne said he will continue pushing General Motors (GM) for a merger deal. Even after being turned down once already, he says he'll keep pursuing a merger with rival GM to create a company that can generate roughly $30 billion a year in cash. TheStreet's Kurumi Fukushima reports in New York.