Fiat Chrysler is planning to push its Jeep brand across the globe said company executives while introducing the company’s new plan for the next five years. It’s goal is to eventually have 20% of the worldwide utility vehicle market.
Executives have also called for a high rate of growth for its Ram truck brand at presentations held during a Capital Market Day event in Balocco Proving Grounds. FCA also said it would establish a finance arm of its own.
CEO at FCA Sergio Marchionne said Jeep, Ram, Alfa Romeo and Maserati would be FCA’s focus during the new five-year plan that he called both strong as well as courageous. The thought is that the plan would be his last prior to an expected retirement at the end of this year.
Chrysler is going to survive this said Marchionne knocking down speculation prior to the meeting that the company is going to end the brand.
Mike Manley, who heads the Jeep and Ram brands, said that the plan for Jeep is to have two launches each year worldwide as the company is seeking to make the brand the dominant utility vehicle worldwide.
FCA is aiming for 1 in every 12 utility vehicles that are sold be Jeeps by 2022, and eventually 1 in 5. The figure during 2009 was 1 in 23.
Manley said that FCA is hoping to increase the manufacturing capacity of Jeep by 500,000 in North America during its five-year plan.
Though FCA has eschewed electric cars previously, Manley said that Jeep’s plan is calling for 10 Jeep hybrids and four full electric vehicles by 2022, with the electric options available for each nameplate during 2021.
In addition, Manley said it was time to change the Ram from always being No. 3 behind the Chevrolet Silverado and Ford F-150.
The Ram forecast globally is for 930,000 vehicles annually with 1 million the target by 2022. The forecast for 2018 is 770,000 and the company hopes to make the brand the No. 2 brand for commercial pickups by 2022 in North America.
Marchionne, who has not been big on investing in electric cars, said that the company would move that way.
The internal combustion engine is going to continue being in the overwhelming majority of the different FCA vehicles, but the electrified and hybrid options will be offered.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.