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Fiat Chrysler: Production Goal of 6M Cars Annually by 2018 Is Feasible

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Fiat Chrysler: Production Goal of 6M Cars Annually by 2018 Is Feasible

Fiat Chrysler Automobiles chief executive said that the automaker will be able to sell 6 million vehicles annually by 2018 thanks to its strategy based on relaunching the Maserati and Alfa Romeo brands.

Sergio Marchionne, the CEO of Fiat Chrysler Automobiles, said he is optimistic about the automaker’s future, following the merger of the two companies and reinforced the sales and production objective. Marchionne previously said that the target of 6 million vehicles built annually was of utmost importance for the automaker’s survival on the global market.

In 2013 the automaker exported 4.4 million vehicles, a number affected by low demand in Italy and other European markets.

In January, Fiat took full control of Chrysler for $4.35 billion, creating the seventh largest auto group in the world. This merger will give the auto group the possibility to cheaply and easily share technology, dealer networks and cash.

“By 2018, Fiat will be capable of making more than six million vehicles (per year),” said Sergio Marchionne.

FCA plans to exports Alfa Romeo and Maserati vehicles to make up for the low demand in its traditional markets in Europe, which have been affected by a 6-year slump in auto sales. The CEO will present in May the new plan outlining investments and new models.

Marchionne added that the automaker might not need to sell assets to get the cash for its expansion plan, but could choose issuing debt.

“Technically, if I look at the structure today, I’d not sell assets,” he said. “Raising capital with some type of instrument is still on the table.”

by Mircea Serafim (my Google+) - Tuesday, April 1st, 2014 - filed under Chrysler, Fiat, Industry, News. Image credit: .
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