Chrysler and Fiat CEO, Sergio Marchionne, revealed the company's 5-year product plan. Marchionne describes the moment as being the first day of a new Chrysler. Among the massive changes, there will be a new logo to work alongside product refreshes in changing brand associations in the minds of consumers.
The logo that has been in use since the mid-90s was streamlined, moving the 'Chrysler' lettering from above the wings to at their heart within a new blue block central to the design.
Chrysler has reported sales plunges across its brands. However, in 2011, it expects to break even, following the repayment of some $9 billion in government bailout money and a rise in revenue from $42.5bn in 2010 to $67.5bn in 2014.
What these targets mean is that the company will be required to double global sales from 1.3 to 2.8 million vehicles. The brand change is significant and it reflects an ongoing restructuring that begins with a new 5-year product plan. Marchionne said that improvements were seen even before the development of new products.
He asserted that the break-even was achieved in September and the last few months have seen more money roll in than out. With this, Marchionne remained confident the cash won't deplete as new models are developed off Fiat technology. By 2010, it is anticipated that emergency facelifts will renew 75% of the line-up while the remainder will be refreshed by 2012.
This strategy will align with a range of new platforms from both Chrysler and Fiat arms. The Fiat 500 will place Chrysler into a new B segment market, while two further platforms set to be received from Fiat will allow new C and D segment offerings. New Chrysler platforms will underpin models in SUV, Minivan and CUV segments.