The newly named Fiat Chrysler Automobiles corporation, or FCA has ambitious plans to grow the automaker world-wide. CEO Sergio Marchionne announced the new roadmap to analysts and reporters May 6th. Jeep is expected to drive the companies growth world-wide.
Jeep's current global production is nearly 800,000 vehicle, according to the company. Fiat Chrysler intends to grow that to 1.9 million vehicles by 2018. The company is planning to build Jeeps in China, as well as Italy.
CEO Marchionne also announced that the SRT or Street Racing Team brand will be rolled back into the Dodge brand. The hope is that Dodge will become more of a performance division. Dodge will lose its Caravan minivan, but the company will beef up its high-performance models.
Fiat Chrysler says it sells more than 4 million vehicles world-wide now, but the company intends to expand that to 7 million vehicles by 2018. The Chrysler brand is a key player in the projected growth. Chrysler will produce the company's only minivan, after 2016. Marchionne is promising that the Chrysler brand will feature vehicles that compete directly with General Motors, Ford, Toyota and Honda. The company has long been criticized for not competing well in the mid-size vehicle market. The redesigned Chrysler 200 is due in dealer showrooms soon.
Fiat Chrysler has ambitious plans for its luxury brands. CEO Marchionne projects that Maserati can quadruple its sales. The company also plans to spend $7 million to relaunch its Alfa Romeo brand. The new Chrysler 200 is built using technology and platforms similar to Alfa Romeo's.
Fiat Chrysler employs 71,000 workers in North America.