Jeep to Take Global Lead as Chryslers Become Lancias in Europe
Chrysler Group LLC’s Jeep brand will become the subsidiary’s primary global make in the first half of next year as Fiat SpA emphasizes the Lancia nameplate in Europe, a top executive said.
Chrysler’s minivan, Sebring and 300 models will be rebadged as Lancias across most of Europe at the end of the first quarter or early in the second, Michael Manley, Chrysler Group’s international chief, said in an interview. Sharing models among the brands is part of a plan outlined by Fiat and Chrysler Chief Executive Officer Sergio Marchionne in November, Manley said. Chrysler aims for Jeep to account for half of Chrysler Group’s international sales, up from closer to a third historically, he said. The goal will be to have two brands — Jeep and one other — from the Chrysler Group in every market, Manley said at an event to introduce the new version of the Jeep Grand Cherokee last week in California.
“The brand is global, it’s very well known everywhere around the world,” Manley said. “With our partnership with Fiat we can now focus on Jeep as an international brand.”
Fiat, which also owns Maserati and Ferrari, is trying to share engines and other parts among models from Fiat, Chrysler, Dodge, Jeep and Alfa Romeo brands to save $2.9 billion over five years. Fiat controls the U.S. automaker through a 20 percent stake granted as part of last year’s U.S.-backed bankruptcy.
U.K. Gets Chryslers
In Europe, some Dodge models will also be sold and the Chrysler name will be kept on the minivan in the U.K., Manley said. Most of Lancia’s approximately 125,000 sales annually are in Italy. Chrysler-badged vehicles will continue to be sold in Latin America and Asia, while the North American use of Chrysler won’t change, he said.
Marchionne said April 21 that he plans to double revenue from cars and light-commercial vehicles to 51 billion euros ($63 billion) by 2014. Turin, Italy-based Fiat aims to boost deliveries by 73 percent in the period by expanding in Europe and emerging markets, re-entering North America and relaunching the Alfa Romeo and Lancia brands.
Fiat has a worldwide sales target of 3.8 million cars and commercial vans in 2014, compared with 2.2 million last year, Marchionne said April 21 in a strategy presentation. Combined with Auburn Hills, Michigan-based Chrysler Group, deliveries would total 6 million cars.
http://www.businessweek.com
Related Websites - Can We Save the Bluefin Tuna? Two thousand years ago, the Roman legions that conquered southern Europe relied heavily upon dried bluefin tuna. Unfortunately, this species of tuna, despite having survived the overwhelming demands of the Roman conquest may have finally...
- The Greenback Buy-Back Plan: Why The Rising US Dollar is the World's Biggest Hoax Still not convinced that there is central bank intervention in the markets or that the markets aren't really "free" anyway? Here's the most direct example you're going to find. Toronto's Financial Post analyst Jacqueline Thorpe...
- Choosing Ski Instruction If you are new to the idea of skiing, but planning to visit a resort and want to hit the slopes for the first time, it is important that you take the time to consider...
- Banks Move to Eliminate Free Checking Yahoo Finance posted an article over the weekend pointing to an end of the free checking accounts that we have all come to know and love. In response to the Credit CARD Act of 2009...
