Fiat Chrysler is expected to maintain its current level of market share through to the 2018 model year and beyond with a raft of new product introductions, Automotive News reports.
According to an annual report on future automotive product plans from Bank of America Merryll Lynch, FCA has “relatively successfully worked through a lull in its product cadence,” in recent years to earn it 12.8 percent market share in the U.S. New products expected to arrive before 2020, like the next-generation Ram 1500 pickup, Jeep Wrangler and Wrangler-based pickup, should also help it maintain the positive momentum.
FCA’s numerous future product introductions are apart of a wider ranging plan to help the London-based automaker earn a net revenue of 136 billion euros by 2018 along with an operating profit of of 8.7 billion-9.8 billion euros and an adjusted net profit of 4.7 billion-5.5 billion euros. In North America, FCA plans on reaching its goals through a new product strategy that will see the departure of the slow-selling and less profitable Chrysler 200 and Dodge Dart. In their place will come new crossovers and SUVs, a strategy that FCA CEO Sergio Marchionne implemented as a direct response to “permanent,” shifts in consumer tastes.
“There has been, in our view, a permanent shift toward (utility vehicles) and pickup trucks,” Marchionne was quoted in saying earlier this year. “So one of the things that we’ve decided to do is to essentially de-focus, from a manufacturing standpoint in the U.S. the passenger car market.”
In addition to the new Wrangler and Ram, FCA is expected to introduce a replacement for the current Jeep Compass/Patriot in coming years, in addition to a replacement for the Dodge Journey and potentially a mid-size Chrysler crossover. The automaker has also toyed with the idea of introducing a mid-size or compact Ram pickup, with Marchionne saying the brand “needs,” to compete in that space.