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FCA bets business plan on US unit performance

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FCA bets business plan on US unit performance

According to Chief Executive Sergio Marchionne, Fiat Chrysler Automobiles five-year business plan is betting heavily on the crucial success of the US operations, which need to keep up the sales increases.

Last month, the currently seventh placed automaker unveiled to the public and its shareholders an important five-years business plan that would call for the company to increase through 2014-2018 the global sales by 60%, while also achieving a five-fold growth of the net profit.

“The execution of the (Fiat Chrysler Automobiles) business plan announced on May 6 depends on the fact that the US operations perform well,” said Marchionne.

The global effort would be spearheaded by its premium and luxury brands Alfa Romeo, Jeep and Maserati, with the CEO commenting that its US unit would support with cash the strategy in Europe and other regions, as the automaker battles loss making regions.

“On Friday I saw the prototype for one of the new Alfa Romeo models engineers are developing in secret, and I can say we are on the right track,” he added.

Of the investments needed, Marchionne contends that at least 5 billion euros ($6.8 billion) would go to Alfa Romeo, which should out on the market eight new models by the end of 2018 and depend on the strength of the Chrysler Group outside Europe.

Via Reuters

by Aurel Niculescu (my Google+) - Monday, June 2nd, 2014 - filed under Alfa Romeo, Chrysler, Fiat, Industry, News. Image credit: .
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