With recent news of another month of sales declines, 22 months in a row, they are well aware that they need new, better product quickly and thankfully, that is in the short-term plan.
So, what does Marchionne and Co. have up their sleeves to turn this ship around?
Well, for starters, a new logo will kick things off and make everyone forget about the troubles of the past. A streamlined version of the winged badge was passed through the U.S. Patent & Trademark office this week, and is set to represent the new and improved Chrysler.
But what will make up this new and improved lineup? First things first, Chrysler has committed to reworking many of their current vehicles for next year, including the Dodge Avenger, Journey, Caravan and Charger, Jeep Patriot, Compass, Wrangler and Liberty, and the Chrysler Sebring and 300 sedans. The Dodge Challenger will also receive a refresh in 2011. In the meantime they will continue to work on new vehicles that will feature platforms and powertrains borrowed from their new corporate parent.
"There is no 'business as usual' at Chrysler," said Chairman Bob Kidder. "There is an incredible commitment and energy for change."
In the fourth quarter of 2010, Chrysler dealers will receive a small, fuel-efficient car to sell in cutesy form, also known as the Fiat 500. The 500 will come with a 1.4 liter four-cylinder engine which will later show up in other small Chrysler products. Also at that time, Dodge plans to release a full-size seven-passenger crossover that will slot in above the Journey. Dodge is going to try to reinvent itself as less of a 'macho' brand and will offer more lifestyle products, which sadly means that production of their halo car, the Dodge Viper, will cease in the summer of 2010.
2012-2013 will bring about a slew of new vehicles for the Dodge car brand, including a new C segment car to replace the Caliber, a B segment hatchback, and a new midsize sedan to replace the Avenger. Also mentioned was a new, yet unnamed sports car that may or may not be a replacement for the deceased Viper. Jeep will also be the benefactor of some new metal, as 3 new models are in the pipeline for 2013. They will be based on Fiat platforms and will include a small SUV, a replacement for the Patriot and Compass, and a new Liberty. Chrysler will get 3 new vehicles as well, which include a small car, a replacement for the Sebring and a midsize crossover. A new Town and Country minivan will be released in 2014.
A major part of the restructuring plan for Chrysler coming up will be their integration with Fiat engineering, sharing most platforms, systems and components between the two companies. By 2014, Chrysler will share three platforms with Fiat, which will increase their average vehicles per platform from two in 2010 to three by 2014, and also increase the average volume per platform from 125,000 to over 300,000.
Powertrain updates are another crucial factor in this 5-year plan. Chrysler has been working on designing an all-new V6 engine, dubbed the 'Pentastar', which will debut on the 2011 Jeep Grand Cherokee next year and will eventually replace all V6's in the lineup that range from 2.7 to 4.0 liters. This will go a long way to reducing the overall fleet fuel efficiency, but it won't be enough to satisfy the upcoming 2016 corporate average fuel economy (CAFE) standard of 35.5 mpg.
This is where Fiat comes in to save the day with the aforementioned 1.4 liter gasoline engine, and later, a turbocharged version of the same 1.4 liter. Chrysler also plans to borrow Fiat's MultiAir technology for the Pentastar V6 as well as single and twin turbocharging. MultiAir is a technology which Fiat says improves fuel economy by 10 percent by using electrohydraulic valve controls to adjust the air and valve timing for each cylinder.