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LIVE UPDATES: Fiat Chrysler CEO outlines business plan for automaker's next five years

Posted: 4:57 AM, Jun 01, 2018
Updated: 2018-06-01 12:24:58Z

BALOCCO, Italy (AP) — Fiat Chrysler CEO Sergio Marchionne is outlining his business plan for the automaker's next five years in his last big presentation to investors before retiring next year.

The presentation Friday of the 2018-2022 business plan marks Marchionne's grand finale, 14 years to the day after he was named Fiat CEO. During that time he has merged Fiat with U.S. carmaker Chrysler and spun off the industrial vehicle business and sports carmaker Ferrari.

However, rumors are circulating that FCA could be downsizing and phasing out the Chrysler brand.

Markets will be watching for Fiat's plans in Italy, where Marchionne has focused production on the premium Maserati and Alfa Romeo brands; the United States, where Fiat Chrysler has led the strategy of dumping passenger cars for higher-margin trucks and crossovers; and China.

Marchionne has said a successor would come from within the company.

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