DETROIT -- Starting in 2012, Chrysler Group's alliance with Italian automaker Fiat S.p.A. will bring a raft of new Fiat-based models to all four of Chrysler's brands.
Joseph Veltri, vice president of product planning, unveiled the long-awaited product plan Wednesday. By 2014, 56 percent of Chrysler's vehicles will be derived from Fiat platforms, he said.
Rising sales spurred by new products were a key factor behind Chrysler's projection of a $5 billion operating profit by 2014. CFO Richard Palmer made the forecast today as he wrapped up an eight-hour program outlining Chrysler's strategy for the next five years under new owner Fiat S.p.A.
Palmer said U.S. sales will more than double during that span, from about 950,000 this year to 2 million. Chrysler had maintained that level in its home market for 15 years until last year's collapse.
Under the product strategy, each Chrysler brand will get new nameplates based on Fiat platforms. The real volume begins in 2012.