MIAMI -- (November 1, 2011) -- Chrysler recently finished up its third quarter earning $212 million - its largest profitable quarter since the 2009 bankruptcy. Chrysler's October sales were also up 27 percent to 114,512 units (including leases). According to the leasing website LeaseTrader.com, the automaker's increased leasing activity and stronger lease programs, including its Jeep and Dodge brands, may be part of its new success story.
Some quick Chrysler facts on LeaseTrader.com:
1: Chrysler brand retention is currently 58.3% (the highest its ever been on LeaseTrader.com)
2: Jeep brand retention is currently 57.6% on LeaseTrader.com
3: Dodge brand retention is currently 55.1 percent (also the highest its ever been on LeaseTrader.com)
4: Chrysler 200 demand is up 8.3% YOY; Chrysler Town & Country is up 7.5% YOY
5: Jeep Grand Cherokee demand is up 11.2% YOY
6: Dodge Charger demand is up 9.3% YOY
7: In a LeaseTrader.com survey of 500 Chrysler, Jeep and Dodge customers, 75.3% said they would consider staying within the family, compared to 42.5% in a similar survey in 2008
Sergio Stiberman, CEO of LeaseTrader.com, on Chrysler:
"For Chrysler it's all about the change they've made to their leasing structure. The company is no longer writing leases under Chrysler Financial, which was unfavorable with its lease policies. And today under GMAC and Ally Financial, Chrysler, Jeep and Dodge are all flourishing with growing demand on the site because people want to get right back into one of the brands and stay within the family when they exercise their option to transfer."
Brand retention is important on LeaseTrader.com because it is a reflection of an automaker's or lease finance company's leasing policies. Drivers use LeaseTrader.com as a way to exit or terminate an existing lease by transferring the contract over to a different, credit-qualified individual. In addition to the overall deal, lease policies influence a driver's decision on what to lease post-transfer. LeaseTrader.com customers have reported that Chrysler's leasing policies under Ally Financial have improved, highlighted by the fact that its time-to-transfer period has shrunk from 75.5 days to 19.3.