Fiat Chrysler Unveils Plan To Make More Electrified Cars

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The 65-year-old chief executive, who will step down in early 2019, said the automaker will phase out diesel engines in European passenger cars by 2021 and reiterated the need for consolidation to produce cleaner and smarter cars as FCA establishes a roadmap for its Jeep, RAM, Alfa and Maserati brands.

The Alfieri will have top speed exceeding 300 kph (186 mph) and an acceleration from zero to 100 kph (62 mph) in less than two seconds.

It's unclear which of those products will make it to the USA, however, and you should take these details with a grain of salt: During FCA's last five-year plan, it said the Chrysler brand would get a new minivan, two new SUVs, a Chrysler 100 compact sedan and a refresh on the second-gen 200 sedan - all by 2018.

Maserati will get a hand with its new electrified powertrains from Ferrari, Kuniskis said. The full-EV Alfieri will have a top speed of 300+ kp/h, or more than 186 miles per hour, and a 0-62 miles per hour time of less than 2.0-seconds.

According to Zacks, analysts expect that Fiat Chrysler Automobiles will report full-year earnings of $3.93 per share for the current financial year, with EPS estimates ranging from $3.44 to $4.20. FCA added that by 2022, Maserati will have a redesigned Quattroporte and Levante, plus a smaller SUV and a new sports auto called the Alfieri. By 2022, Jeep should also have ten plug-in hybrid EVs (PHEVs) and four battery EVs (BEVs) on sale.

Ford said retail sales were 163,796, while total sales, including those to fleet customers, rose 0.7 percent to 242,824.

WardsAuto reported on Marchionne's comments about Dodge continuing on as a performance brand.

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Year over year, sales of the company's Chrysler brand fell 18% as sales of the new Pacifica minivan posted May sales of 11,151 units, down 5% for the month.

Dodge was also left out of the presentation.

The business plan is Marchionne's grand finale, 14 years to the day after he was named Fiat CEO. He donned a necktie, reportedly for the first time in more than a decade, quoting Oscar Wilde that "a well-tied tie is the first step in life..."

Palmer said the group expected to return to an investment grade credit rating by the end of next year, after achieving a landmark goal to erase its debt load by mid-2018.

While Marchionne reiterated that FCA doesn't plan to shutter Chrysler, Chrysler received little attention at the event and it certainly won't receive as much product development as Jeep.

Marchionne said of elimination of the debt that "this is nothing to brag about... it doesn't make us better than others".

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