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Newly-merged Fiat Chrysler Automobiles laid out aggressive plans today, including a revitalization of the Alfa Romeo sportscar line and the doubling of Jeep sales, mainly in China.
Chief Executive Sergio Marchionne said the Italian-American carmaker aims to build sales not only in the United States but in other markets as it seeks to rival Volkswagen and General Motors.
"The history of the automobile industry is littered with alliances that have failed," Marchionne told investors, suppliers and reporters at the Chrysler headquarters in Detroit, newly relabeled Fiat Chrysler.
"In the past five years, Fiat and Chrysler have learned to work together and trust each other," he said.
This has led to a sharing of technical knowledge and market savvy, which is turning the company into a true global automaker, he said.
"In a flat world, you cannot be secure in your own market unless you can compete on a global basis," Marchionne added.
Fiat completed its takeover of Chrysler in January, with the strong profits from the American unit helping hold up the parent, suffering from the deep downturn in the European economy.
Critical to the combined company's future is building more presence in the world's strongest markets, including the United States and China.
Jeep especially has been singled out for a broad growth effort, Mike Manley, head of the Jeep brand, told investors.
Jeeps are now built only in the US but the firm expects expects sales to grow by 20% per year over the next five years, doubling this year's expected 1 million units by 2018, Manley said.
To the next five years Jeep will begin building cars in Brazil, Italy, India and China.
