Published: Sat, June 02, 2018
Markets | By Otis Pena

Fiat Chrysler Bets Against Fiat, Chrysler

Fiat Chrysler Automobiles delivered a lot of news at its investor presentation detailing its latest five-year plan on Friday, and the plans include a new 500e electric vehicle and a 500 wagon variant. Dodge sales are down by just six percent during the same period, with overall U.S. sales of almost 205,000 units, while Fiat has collapsed by 45 percent to less than 7,000 units.

Update: Fiat has said that Fiat, Chrysler and Dodge will not be "fully eliminated", although the brands have been left out of the company's overall strategic update.

The past few weeks have seen plenty of speculation about the automaker's future and whether or not it was going to kill off storied brands like Dodge or Fiat. During that time he has merged Fiat with US carmaker Chrysler and spun off the industrial vehicle business and sports carmaker Ferrari.

The 65-year-old Italian-Canadian has his successor as CEO will come from within the company.

Sporting a tie rather than his trademark sweater to mark the debt milestone, Marchionne said this opened up opportunities to invest in FCA, which he rescued from the brink of bankruptcy, and to reward shareholders.

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On Friday Fiat Chrysler CEO Sergio Marchionne is set to preview the company's future product lineup as he seeks to cement his legacy as boss of the firm - and his plans may not feature any Chrysler-badged cars.

Meanwhile, FCA's new Jeep agenda calls for two launches every year in an effort to make Jeep the dominant utility vehicle brand worldwide. Truck maker Ram will limit its alternative powertrains to a high-end premium truck, the TRX, which will compete with Ford's Raptor.

Mike Manley, FCA's head of Jeep and Ram, said the figure was one in 23 nine years ago.

Jeep will enter three new segments: a small city-car size SUV targeting customers accustomed to sedans and hatchback, larger SUVs with three rows of seats, and the extra-large SUV.

Luxury brand Maserati has been set the target of doubling sales to 100,000 cars by 2022, with analysts saying the addition of electric drive to the historic marque means it is seeking to take on Tesla. "We are", Kuniskis said.

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