Fiat-Chrysler combined car sales expected to hit 6 million units by 2014

Article by Christian A., on November 23, 2011

Sergio Marchionne, the CEO of both Fiat and Chrysler, said that their combined car sales will increase to a total of 4.2 million units this year and will climb to almost 6 million by 2014. Marchionne said that these targets will stay the same even if the car sales in Europe have been weak. He explained that its poor sales were offset by Chrysler's strong performance in the U.S. and growth in Brazil.

Chrysler, the third largest U.S. auto firm, has been managed by Fiat since 2009 when it was bailed out by the U.S. government. Chrysler has contributed two-thirds of the combined group's trading profit in the third quarter.

Marchionne said that he was “cautious” about its outlook for profit margins. He said that he anticipates a “great year” for the U.S. auto industry but that he is still reviewing the 2012 targets for Europe. He revealed that for 2012, there is no plan to merge with Chrysler. At the Confederation of British Industry's annual conference in London last Monday, Marchionne said that he believes that there will be further consolidation in the industry.

He said that in the future, marginal players will be eliminated and that there would only be 5 or 6 players that will be successful “based on sharing architecture, at a global level." Marchionne hopes to make Fiat a global player through a revamped Chrysler. The group has set a target of 100 billion euros ($144.2 billion) in combined revenues by 2014. This is nearly double the expected 2011 revenues of about 58 billion euros the group has aimed for this year. [source: Reuters]

Topics: fiat, chrysler, sales

If you liked the article, share on:

Comments

Recommended

A racing team is claiming that it has managed to break the lap record in its category in the ever-demanding Nurburgring circuit in 2016 while driving a road-going Volvo S60...
by - May 27, 2017
Aside from the officially confirmed BMW 8 Series, the next generation BMW M5 (F90) is getting a lot of attention from the fans, enthusiasts and even potential customers around the...
by - May 27, 2017
Automobili Lamborghini’s preparations for the production of its first ever sports utility vehicle, the new Lamborghini Urus, has reached new grounds as the Italian carmaker is disclosing plans to construct...
by - May 26, 2017
The upscale version of the GMC Yukon body-on-frame sport utility vehicle – the GMC Yukon Denali – has been refreshed for the 2018 model year. It now sports a new...
by - May 26, 2017
The largest gathering of Volkswagen and Audi cars in Europe is underway, and the German premium carmaker is displaying the third model of its G-Tron range at the 2017 Worthersee...
by - May 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries