Fiat Chrysler CEO Sergio Marchionne said the five key planks of his new strategic plan are:
-- Expanding in the premium-car market.
-- Refocusing the Fiat brand outside of Europe, specifically in Latin America and China.
-- Nearly a three-fold expansion of Jeep sales.
-- Economies of scale via three key vehicle architectures.
-- Virtually eliminating the company's 9.7-billion-euro net debt.
Here are highlights:
Fiat
Fiat brand's global sales seen rising to 1.9 million vehicles by 2018 from 1.5 million in 2013. European sales of Fiat brand are expected to stay about flat through 2018 at 700,000 vehicles. "The volumes in EMEA clearly reflect our cautious approach. In Europe the mass market brands are challenged," said Fiat brand chief Olivier Francois. "We are all realizing that notwithstanding Fiat's great European history, things have changed," he said. On Latin America sales: "In Latam, there is one objective: Stay on top in Brazil."
Jeep
Global Jeep sales seen rising to 1.9 million vehicles by 2018 from 1 million this year. Jeep manufacturing will expand to 10 plants in six countries, including Brazil and China, from current four U.S. plants.
Fiat Chrysler in North America
Fiat Chrysler sees group's total North American sales at 3.1 million vehicles by 2018 from 2.1 million in 2013
Chrysler
The company expects the Chrysler brand global sales to grow to over 800,000 units by 2018 from 350,000 units sold in 2013, "effectively returning the Chrysler brand to the volumes and share it has achieved in the past," said Chrysler brand boss Al Gardner.
Dodge
U.S. sales seen rising to 600,000 by 2018 from 596,300 in 2013.
Alfa Romeo
Alfa Romeo sales seen at 400,000 vehicles in 2018 from 74,000 in 2013. Will introduce eight new Alfa Romeo models between late 2015 and 2018. Company sees Alfa Romeo sales in N. America at 150,000 vehicles by 2018, up from none last year.
Maserati
Maserati sales seen rising to 75,000 in 2018 from 15,400 in 2013. Maserati revenue seen rising to more than 6 billion euros by 2018 from 1.7 billion in 2013. Maserati capex seen at more than 2 billion euros from 2014-18. "Maserati will deliver double-digit margins throughout the entire plan (up to 2018)," brand boss Harald Wester said.
Ferrari
Marchionne said there was a "willful and intentional" plan to keep production at 7,000 to maintain Ferrari's "uniqueness and exclusivity."
--Reuters
DETROIT (Bloomberg) -- Fiat Chrysler laid out plans for 55 billion euros ($76.6 billion) in investments to transform Alfa Romeo, Maserati and Jeep into global brands and more than double profit in the next five years.
