It’s an odd year for the newly formed Fiat Chrysler Automobiles (FCA.) It posted massive losses in Q1 of the year, to the tune of almost $700m. But despite that, the company is actually doing fairly well. The 2015 Chrysler 200 in Albert Lea, MN received over 10,000 orders in its first day for sales next year. It gained massive amounts of market share, now owning about 12.7% of the American market. Add onto that the excitement over what the company’s new five year plan announcement, and despite the posted losses, FCA seems to being doing pretty well for itself, especially as all the losses were actually paying off debts and finalizing a deal with the United Auto Workers. Not taking those two massive hits, the company would have actually made money at about $486M.
The company was created earlier this year after Fiat’s acquisition of Chrysler. After Chrysler filed for Chapter 11 bankruptcy in 2009, Fiat had slowly been been acquiring shares from the American and Canadian governments as well as the United Auto Workers. It was recently announced that the companies headquarters would be located in London, where, as stated by company CEO Sergio Marchionne, the company could be on neutral ground as opposed to being stationed in Fiat’s Turin, Italy, or at Chrysler’s Auburn Hills, United States of America. The company serves as the parent company for multiple car makers such as Fiat, Chrysler, Dodge, Jeep, Ram Trucks, Maserati, Alfa Romeo, and Lancia, making it the seventh largest automaker in the world.
With ambitious plans for the next five years, FCA is looking to take the automotive world by storm. It’s launching a plug-in hybrid 2016 Town & Country near Mason City, IA, a first in any minivan across the board. Along with the refresh of the Chrysler 200 in 2015, next year will bring a refresh of the 300 as well. 2016 will bring the launch of the Chrysler 100, a compact car. in 2017, the 200 will receive another facelift. And finally, in 2018, there is a mystery crossover SUV that will be debuted.
Where Chrysler once struggled to make a name for itself in the new century, it may finally be able to create an image under FCA ownership, living up to a long history that it has seemingly lived off for almost a decade. It’s good to see things are looking up in Michigan.