Fiat Chrysler Automobiles (FCA) has some big plans over the next five years to increase profitability and make their foray into the electric and autonomous segment. Speaking to shareholders and the media, CEO Sergio Marchionne highlighted that the company’s focus over the next five years will be Jeep, Ram, Maserati and Alfa Romeo which according to him are brands which are strong and courageous. FCA also wants to ensure Jeep manages to achieve a healthy 20 percent of the global utility vehicle market. The company aims 1 in every 12 utility vehicles sold by 2022 to be a Jeep, eventually reaching 1 in 5. In 2009, that figure was 1 in 23.
Even though FCA has so far shunned electric vehicles, Mike Manley, head of Jeep and Ram confirmed that Jeep will offer 10 hybrids and four full electric vehicles by 2022 with electrification options available across each nameplate by 2021.
There were also discussions around an aggressive growth plan for Ram with a possible mid-size pickup on the cards as well as FCA having its own finance arm. FCA is the only major auto maker in the US currently that doesn’t have its own finance arm.
Marchionne also rebuffed speculations of Chrysler being shown the door and confirmed that the brand will survive. Although he set a direction for the brand saying it might not be a global player and remain a relevant brand in the domestic US market.
FCA is also observing global regulations on EVs quite closely and for now and the near future, internal combustion engines will continue to be in the vast majority of FCA vehicles. FCA will also make billions in electrification investments but offer products to global markets based on local regulations and market needs when it comes to EVs.
Shareholders were also expecting an announcement on who might replace Marchionne who is due to retire next year but the company remained silent on this matter.
Follow this link for all the in-depth corporate presentations shared by FCA at the Capital Markets Day https://goo.gl/v4NEbw