Fiat Details Chrysler Turn-Around Plan, Reuters

Fiat SpA Chief Executive Sergio Marchionne delivered a long-awaited plan intended to turn around Chrysler over the next five years.

The plan, according to Reuters, was presented by Marchionne and other Chrysler executives at the automaker’s headquarters, includes changes to Chrysler’s design, manufacturing, parts supply operations and brands.

It also included the first set of financial projections for the U.S. auto-maker since it exited bankruptcy in June. Several of the plan’s highlights include sales projections that have Chrysler projecting increases in U.S. sales from 950,000 to two million, with U.S. auto sales recovering from 10.5 million in 2009 to 14.5 million in 2014. Other highlights from the speech included the news the Jeep brand will get all-new Grand Cherokee in 2010. In 2013, new vehicles on the Fiat platform will include a small SUV, a replacement for the Compass and Patriot models and a new version of the Jeep Liberty. The Dodge brand will get a new Charger by 2010 and a new full-size crossover vehicle in 2010.