CEO Sergio Marchionne says that a set of new sedans is in development. Chrysler is looking to expand and update its model lineup as it faces pressure from the competition and its survival after bankruptcy still remains in question.
The news from Detroit is that Chrylser is developing a Fiat-based compact sedan to mark new territory in its model lineup.
There have been previous reports that the Sebring was to be replaced by the Nassau but this compact sedan is an entirely new model. No details on what it would look like were given, but Chrysler said that it is being developed on an expedited basis.
"We are 98 percent there on styling," Chrysler Group LLC CEO Sergio Marchionne said in a conference call with investors - referring to a new set of sedan models the company was developing. Marchionne said that development on the new Fiat-based models was far enough along that some of them can be expected to make their debut by the end of 2011.
Aside from the new compact sedan, new models in development include an unspecified number of cars and crossovers. Chrysler Group already builds the Dodge Caliber and the Jeep Compass and Patriot - three crossover vehicles. It seems it is a larger array of passenger cars which its lineup is in need of.
The company may be feeling the heat from the competition as new models such as the Chevrolet Cruze and Ford Focus arrive on the scene. Chrysler's recovery from bankruptcy still remains uncertain and Marchionne is speeding up the process of bringing new models to the marketplace to improve the company's chances of survival. Marchionne is also trying to take the new Chrysler public again ahead of schedule.