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Fiat Chrysler Lays Out Broad Growth Plan

All-encompassing blueprint shows the way to 2018.

by on May.06, 2014

A worker puts the finishing touch on the new FCA sign at the company's North American headquarters in Auburn Hills, Michigan, this morning.

With a veiled reference to the disastrous, failed alliance that nearly destroyed Chrysler during the recent recession, CEO Sergio Marchionne and his management team laid out a broad and ambitious plan for the U.S. maker and its Italian partner, Fiat, that will see the newly merged company roll out a flood of new products during the next five years.

Following up on a day-long session in late 2009, after Fiat first came to Chrysler’s rescue, the new Fiat Chrysler Automobile (FCA) detailed its next five-year plan, outlining a strategy that will see it try to sharpen the focus of each of its many brands. In most cases, that will mean adding a number of new products, though in some cases, key brands like Dodge will actually reduce their line-ups to eliminate models that don’t fit their image.

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With several hundred investment analysts and an equal number of journalists in the audience, Marchionne’s clear intent was to show that Fiat Chrysler, currently the world’s seventh-largest automotive manufacturer, is well-positioned to challenge rivals ranging from Toyota to Ford, General Motors to Volkswagen, in an increasingly competitive market. (more…)

Chrysler Could Turn Profit in ’10, Says Marchionne

But turnaround will take 18% sales gain here and abroad.

by on Jan.12, 2010

Chrysler could very well pull off an operating profit in 2010, says CEO Sergio Marchionne, but it will take an 18% jump in sales during a year with little new product.

Though it won’t begin its anticipated product renaissance for more than a year, Chrysler could still pull off an unanticipated profit for 2010, CEO Sergio Marchionne suggested during a Tuesday meeting with reporters at the North American International Auto Show.

After hitting “rock bottom,” Marchionne, who also serves as chief executive of Fiat, said he expects 2010 to mark the beginning of a long, slow recovery for both the U.S. auto industry and for Chrysler.

“We’re out,” he said, referring to the worst downturn the American car market has seen since the Great Depression.  “We just need to be focused and to be sure we don’t fall back on our bad habits.”

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Having become lean and focused – and after having dumped billions in debt and bad assets during the two-month journey through bankruptcy, last spring – Marchionne said Chrysler could very well pull off a real profit in 2010.  And it would be an operating profit, not an account trick where the company didn’t include such minor inconveniences as taxes.

“The magic number is 1.65 million,” said the Italian-born executive, who spent much of his life across the border, in Canada.

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Chrysler Predicts $14 Billion in Earnings by 2014.

CEO Marchionne insists he will eventually repay governments.

by on Nov.05, 2009

Just months after the automaker emerged from bankruptcy, Chrysler CEO Sergio Marchionne is predicting an operating profit in 2010.

Just months after the automaker emerged from bankruptcy, Chrysler CEO Sergio Marchionne is predicting an operating profit in 2010.

Less than five months after emerging from bankruptcy, Chrysler Group LLC has laid out an aggressive turnaround plan that will, if successful, more than double its North American sales, restore most of the market share it has lost in recent years, finally position it as a serious global player – and generate as much as $14 billion in profits over the next five years.

During an all-day session that explored the minutia of a far-reaching turnaround plan, Chrysler’s new CEO Sergio Marchionne promised no miracles but insisted that even using conservative estimates for the recovery of the U.S. market, Chrysler could be back in the black on an operating basis next year, and turn a net profit in 2011.

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In a message likely to be particularly well received by taxpayers worried about the $80 billion in money used to bailout Chrysler and General Motors, Marchionne said he expects to pay back the U.S. Treasury by the end of the 5-year bailout program.

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Chrysler’s New Masters to Unveil Turnaround Plan

Inside Chrysler's 5-Year Plan

by on Nov.04, 2009

Chrysler's new CEO, Sergio Marchionne, has promised to streamline the automaker. He's already streamlined the logo, this new one just approved by the U.S. patent office.

CEO Sergio Marchionne has promised to streamline the automaker starting with this new logo, just approved by the U.S. patent office.

Bankrupt in 2009, back in the black a year later?  That’s one of the predictions Sergio Marchionne is expected to make, today, as he lays out his plan to turn around the ailing Chrysler.

Since the smallest of Detroit’s once “Big Three”  emerged from Chapter 11, in June, little has been seen or heard about its plans for the future, other than a couple tentative trial balloons.

In part, insiders say that reflects the mess that Chrysler’s new masters at Fiat discovered when they began digging into the company’s current situation.

But the Canadian-educated Fiat CEO Marchionne, who’s now taken the helm at Chrysler, believes that he can begin a lightning turnaround by slicing-and-dicing the U.S. maker’s product line-up – which will mean returning an Italian brand, Alfa-Romeo, to the U.S,, along with select products from Fiat – and implementing Fiat processes to not only speed up product development but also to cut costs and improve quality.

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At least 300 people are expected to attend today’s briefing at the Chrysler Technology Center, in Auburn Hills, Michigan.  The sprawling facility, with its attached corporate headquarters tower, is both a monument to Chrysler’s past days of glory, as well as a testament to its recent near fatal problems.

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