All eyes will be trained at Detroit and Italy today as Fiat Chrysler Automobiles hold their brand business meeting. Usually, a statement is released by PR about progress made and future business plans, however, this year there’s a twist to the tale.
Hot rumours are circulating in the market that one of America’s oldest remaining automakers could be on the chopping block. A leaked agenda image of Friday [today’s] agenda seems to have sparked this conclusion as it does not mention talking points regarding Chrysler, Fiat, or Dodge which ideally should have been part of FCA’s five-year strategy.
FCA CEO Sergio Marchionne will hold an investor’s meeting in Italy on Friday, June 1, in Balocco, Italy.
Speculation is that he will announce the culling of one the corporation’s most historic brand. FCA specialist Larry P. Vellequette of Automotive News reports that “a source told a European colleague” that Marchionne would declare the end of the Chrysler nameplate in the speech to investors.
In addition, Marchionne could detail plans to pull Fiat out of the United States and China. The brand would re-focus on building vehicles for Europe, Brazil, and emerging markets.
FCA’s big strategic pivot would free up money to invest even more into Jeep, which is already the corporation’s most profitable division. Among the new products reportedly on the way, there would be an even smaller SUV below the Renegade and the luxurious Grand Wagoneer for challenging the upper end of the segment.
The corporation might also merge Alfa Romeo and Maserati into a single, performance-oriented division
These major moves could be Marchionne’s parting shots as CEO before he retires from FCA next year. He has led the company for the last 14 years, including spearheading the merger between Fiat and Chrysler and spinning off Ferrari.