Jeep targets 850,000 unit sales

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Chrysler's Jeep targets 850,000 unit sales by 2014

09/14/2011

FRANKFURT (MarketWatch) -- Jeep, owned by Chrysler Group LLC, estimates sales will reach 850,000 units by 2014 as it leverages the global distribution network of Chrysler's owner, Fiat SpA (F.MI), to expand into markets where it has previously had little presence, according to a presentation made to industry analysts Wednesday.

The target is slightly higher than one made previously by the iconic brand, which was 800,000 units.

Other targets given at the presentation, made by brand head Michael Manley at a conference hosted by UBS in tandem with the Frankfurt motor show, include sales of 560,000 units in 2011. This target compares with the 419,000 units sold in 2010.

The numbers are included in the presentation posted on Fiat's website.

If Jeep reaches the target set for 2014, it will have surpassed its last annual sales peak of 650,000 units reported between 2007 and 2008--before Chrysler's demise sent sales plummeting to 338,000 two years later.

Jeep has been revitalized by Fiat's gradual acquisition of Chrysler. The Italian automaker has been helping Jeep and other Chrysler brands sell vehicles in markets such as Asia and Latin America in exchange for access to technology. Fiat is also working closely with Chrysler to produce new models that benefit from the strengths of both automakers, sharing parts and platforms to cut costs.

Some of the updated models issued by Jeep include the Compass and Grand Cherokee. Year-to-date sales for these cars have increased by at least 100%, according to the presentation.