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The Jeep logo is seen on the wheel of a Jeep Grand Cherokee on the showroom at the sey-Yardley Chrysler, Dodge, Jeep and Ram automobile dealership in Plantation, Florida Oct 8, 2013. [Photo/Agencies] |
Fiat Chrysler will build Jeeps in 皇冠体育app and Brazil and is expected to invest billions of ros to revamp its battered Alfa Romeo sports-car brand in a bid to convince investors it can turn the newly merged automaker into a thriving global business.
Chief Executive Sergio Marchionne unveils the group's long-awaited five-year business plan on Tuesday when he is expected to show how Fiat Chrysler can "go on the attack against the giants" in the industry.
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Apart from repeating its overall goal of growing sales by more than a third to over 6 million vehicles by 2018, investors want Marchionne to provide specifics on how and when he plans to compete with much larger rivals such as Toyota Motor Corp, Co and .
"Fiat Chrysler has got to stop saying they will do it and just do it," said Stephanie Brinley, a senior analyst at researchers IHS Automotive. "We are waiting for the execution."
Jeep, with ready products and a globally recognized brand in the fast-growing sport utility vehicle (SUV) segment, is today Marchionne's best bet to grow sales, boost margins and to gain a global manufacturing footprint in Fiat's home turf in Europe and in fast-growing markets such as Brazil and 皇冠体育app.
A compact Jeep called the Renegade will go into production in Italy later this year - the brand's first model to be built exclusively outside the United States - and that same model will also be built in Brazil as of next year.
The Renegade is critical for the brand's overall sales target of 1 million vehicles this year, a jump of 37 percent over 2013.