Jeep and Ram focus of Fiat Chrysler Automobiles five-year plan

Sergio Marchionne wore a tie for Friday's event instead of a trademark

Sergio Marchionne wore a tie for Friday's event instead of a trademark

The firm said it aims to double profit over the next five years, generating about 30 billion euros ($35 billion) in industrial free cash flow in that span. Fiat Chrysler has no plans to spin off its Alfa Romeo and Maserati brands, Marchionne said.

The Alfieri will have top speed exceeding 300 kph (186 mph) and an acceleration from zero to 100 kph (62 mph) in less than two seconds.

Unveiling the company's plans through 2022, long after his planned retirement next year, Marchionne said Fiat Chrysler will invest 9 billion euros ($10.5 billion) as it tries to catch up in the market for gas-electric hybrids and fully electric vehicles, without forsaking a core market that still wants internal combustion engines. "We are", Kuniskis said. The full-EV Alfieri will have a top speed of 300+ kp/h, or more than 186 miles per hour, and a 0-62 miles per hour time of less than 2.0-seconds. The company has been investigating taking an equity stake in Santander Consumer, which now offers financing on Chrysler vehicles. These will hit each of the different size segments in the SUV and crossover classes, from a crossover smaller than the soon-to-be-revised Renegade all the way up to a new Wagoneer or Grand Wagoneer.

Alfa Romeo plans six plug-in hybrid electric vehicles across its range. But this new Five Year Plan sees a full reversal of that attitude.

The Italy-based automaker confirmed rumors to phase out all diesel passenger vehicles by early next decade and unveiled sprawling plans for Jeep, Ram, Maserati and Alfa Romeo. Sales for the Ram pickup were up by 4%, while Ram's overall sales rose 2%.




Dodge was also left out of the presentation.

The last five-year plan, laid out in 2014, emphasized Dodge's status as a "performance brand", and it has launched enough Hellcat and SRT variants of its lineup in the ensuing years to back up that claim.

Back in 2011, when Fiat launched the electric Fiat 500 in the USA to keep regulators happy, Sergio Marchionne expressed a desire that no one buys a 500e because, even with a £30k price tag, the electric Fiat 500 would cost Fiat £10k every time one was sold. Indeed, FCA's financial presentation indicated plans to devote only about a quarter of product-related capital expenditures from 2018-22 on all three entities combined, versus almost half of all capital expenditures earmarked for Jeep.

Santander Consumer has fallen short of sales targets that it set for Fiat Chrysler, financing only 28% of the automaker's total loans, short of its 65% goal, Bloomberg News reported.

Marchionne said of elimination of the debt that "this is nothing to brag about... it doesn't make us better than others".

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