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Chrysler sales rise 11 percent but miss expectations

Friday, 1 Nov 2013 | 8:09 AM ET

DETROIT, Nov 1 (Reuters) - U.S. October auto sales for Chrysler Group LLC rose 11 percent from a year before, missing analysts' expectations despite strong sales of its Ram pickup truck and Jeep Grand Cherokee.

Automakers reporting monthly sales on Friday are expected by analysts to show a gain of 12 percent to about 1.22 million vehicles, or 15.4 million vehicles on a seasonally adjusted annualized basis.

Chrysler said that the annualized selling rate will be 15.7 million vehicles for October, but this figure includes medium and heavy trucks, which generally account for about 300,000 in annual sales. Analysts do not count these big trucks in their estimates.

Chrysler, No. 4 in the U.S. auto market by sales, sold 579 Jeep Cherokee midsize SUVs in October; it began shipments only last week after a two-month delay.

Hyundai Motor Co said that its U.S. sales climbed 7 percent to 53,555 vehicles.

With the exception of market sales leader General Motors Co , the top six manufacturers in U.S. sales are expected to post double-digit gains for October, according to industry analysts. Eight analysts say GM will show sales gains of between 5.5 percent and 10 percent.