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Marchionne Forecasting 2 Million Sales For Chrysler in 2011

New overseas demand a big driver, CEO predicts.

by on Nov.18, 2010

A quarter of Chrysler's sales will come from outside the U.S. in 2011, predicts CEO Marchionne.

Chrysler Group is preparing to sell more than 2 million vehicles next year, said CEO Sergio Marchionne as the automaker showed off its new Fiat dealership in the heart of Los Angeles.

Significantly, Marchionne said that at least a quarter of those 2 million units — more than 500,000 — will be sold outside the United States, everywhere from Canada to Mexico, Europe and South America.

Marchionne has said from the time he took on the chief executive role, last year, that building international sales would be key to Chrysler’s future success.

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It is also part of the process by which the federal government, which bailed out the bankrupt maker, last year, will make it possible for Chrysler’s Italian partner Fiat to increase its stake in the U.S. company from 20% to 35%.

Sales of Chrysler vehicles are already strong in Canada and have started to grow again in Mexico, Chrysler officials said. Tapping Fiat’s broad distribution network is expected to help Chrysler build demand in South America.