Chrysler’s Sales Didn’t Meet Expectations
2014 appears to be not a good year for the automobile manufacturing company Fiat Chrysler. Fiat Chrysler is not the only to be suffering because the overall sales of all Big Three have declined in the current year.
However the World’s seven largest automobile manufacturing giant has recently started to improve and modify its Chrysler 300 to revive its declining sales. The company is facing a strong competition in and outside of the US. The company has to come up with new and effective warfare marketing strategies to survive in the market.
However the parent brand of the company has seen a slight increase in its sales in 2014. The Chrysler group sold a total of 1,726,539 vehicles with a 15% increase in its total sales during the first 10 months of the current year. While the Fiat Chrysler brand has undergone a decline in its sales dropping by 4% with only 250,612 products being sold this year.
It’s bad news for the company and now its hope for this year’s revenue is its new Chrysler 300 flagship car. The company only managed to sell 44,419 Chrysler 300s with a decrease of 9% in sales.
The company’s management seemed to be pretty confident and hyperbolic regarding their flagship Chrysler 300. They were confident regarding its state of the art eight speed torque flite transmission, which has now been declared as a standard for every model; the Uconnect evaluated services latest generation with a DID full color 7 inch driver information system; the advanced AWD all wheel driving system, giving the best fuel mileage 31 miles per gallon; with an impressive new designed model and sixty years of American innovative experience.
However even with all this hyperbolic marketing of the car it still didn’t do well in the market. According to analysts Chrysler 300 faces a huge competition from the rival companies, which offer exactly the same features and experience oriented cars in the market. The main and the toughest competitors are General Motors and the Toyota Inc.
The competition cutting products, which are destroying Chrysler’s market, are General Motors recently designed, updated and modified Buick Lacrosse and Chevrolet Impala, Hyundai’s Azera Toyota’s Avalon and Azera’s newly launched Kia Cadenza. All of these cars provide excellent mileage, state of the art transmission, best material designs, fuel efficiency and hybrid products as well creating a competition disaster for the Chrysler 300.
Moreover the company has also recently been involved in lawsuits regarding its 1999 Grand Cherokee jeep, whose fuel tank leakage problem has led to nearly 51 deaths in 15 years. The company is facing a recent lawsuit from a 4 year old victim’s family who was killed in one such car crash due to leakage of fuel.
The company received notices repeatedly from the National Highway Traffic Safety Administration to fix the problem but the company declined to do so every time. However since the lawsuit and its heavy fine, Fiat Chrysler has been voluntarily offering to fix all of its manufactured 1999 Grand Cherokee jeeps to save its faltering goodwill and declining image.