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Marchionne wants to nearly double Jeep sales by 2018

Jeep just keeps breaking its own sales records. A couple of weeks ago, the off-road brand announced its worldwide sales exceeded one million units for the first time, marking its third consecutive global record and the fifth straight year of sales increases here in the US. But FCA isn't about to stop there. TheDetroitBureau.com reports that chief executive Sergio Marchionne, speaking to the media at the Detroit Auto Show, has announced a new sales target for the Jeep division: By 2018, he wants to see Jeep sell 1.9 million units in a single year, nearly doubling its all-time record. The expansion will surely encompass new products, with the all-new Renegade just warming up, a next-generation Wrangler on the way and a reborn Grand Wagoneer in the pipeline, as well. But the focus of FCA's preparations to reach the new target is on production capacity. While it's not clear whether the Toledo, OH plant where half of all the Jeeps sold around the world are currently built will continue to host the next Wrangler, FCA is expanding production overseas. The Renegade is already being built alongside the Fiat 500X in Italy, where another 1,000 workers are being re-hired and where another factory is set to start producing Jeeps, as well. A Renegade-based variant for the South American market will soon be built in Brazil, and by the end of this year, Jeep aims to start local production in China.

2019 Jeep Renegade revealed with a more mature, aggressive look

Jeep has finally revealed the refreshed 2019 Jeep Renegade compact crossover SUV. So far, only the exterior has been shown, and it does reveal a number of differences from the current model. At the front, we can see the Renegade now has available LED headlights similar to those offered on the Wrangler. The individual grille slats are wider with slimmer chrome bezels, which help to give it a more aggressive look. The front bumper has been completely redesigned, with the fog lights appearing to be bigger, and they now sit in the main lower grille. That grille is flanked by two triangular air inlets. Around back, the Renegade is nearly unchanged. The taillights are the only major change, and the dark red lights lend a more premium, mature look to the little crossover. We also see that the Renegade now sports an obvious grab handle for opening the rear hatch. Other details are scarce, as Jeep did not reveal much else with the two photos above. We've reached out to Jeep for more info but haven't received a response at the time of writing. We do know from the previous teaser of the new model that the Renegade will offer both three- and four-cylinder engines in Europe. The three-cylinder displaces 1 liter and makes about 120 horsepower, and the four-cylinder is available in two forms, one that makes 150 horsepower, and one that makes 180 horsepower. All of them are turbocharged. Spy shots have also hinted that the Renegade could also be getting a hybridized version. Related Video: Image Credit: Jeep Jeep Crossover SUV Economy Cars jeep renegade

China's Great Wall confirms its interest — in Jeep, or all of FCA

HONG KONG/SHANGHAI — Chinese automaker Great Wall Motor reiterated its interest in Fiat Chrysler Automobiles NV on Tuesday, but said it had not held talks or signed a deal with executives at the Italian-American automaker. China's largest sport utility vehicle manufacturer made a direct overture to Fiat Chrysler on Monday, with an official saying the company was interested in all or part of FCA, owner of the Jeep and Ram truck brands. Automotive News first reported the news, quoting Great Wall Motor President Wang Fengying as saying she planned to contact FCA to discuss acquiring the Jeep brand specifically. Those comments sent FCA shares higher but also raised questions over the ability of China's seventh-largest automaker by sales to buy larger Western rival FCA, or even Jeep, which some analysts value at as much as one-and-a-half times FCA. Great Wall sought to dampen speculation on Tuesday. It confirmed it had studied Fiat Chrysler, but said there was "no concrete progress so far" and "substantial uncertainty" over whether it would eventually bid. "The company has not built any relationship with the directors of FCA nor has the company entered into any discussion or signed any agreements with any officer of FCA so far," the company said in an English-language stock exchange filing. It did not give further detail. Fiat Chrysler stock dipped on the statement on Tuesday. Great Wall said trading in its Shanghai-listed shares would resume on Wednesday after having been suspended. Fiat Chrysler declined to comment on Great Wall's statement. On Monday, it said it had not been approached and was fully committed to implementing its current business plan. FLUSHING OUT RIVALS? Great Wall Motor, which was early to spot China's love of SUVs, had revenue of $14.8 billion last year and sold 1.07 million vehicles - but that compares with FCA's 2016 revenue of 111 billion euros ($130.6 billion). Analysts said Great Wall would need to raise both debt and equity to complete any deal, meaning its chairman Wei Jianjun could lose majority control. One possible scenario, according to analysts at Jefferies, would see Wei keeping a roughly 30 percent stake, while Great Wall would raise $10-$14 billion in debt and $10 billion in equity - hefty for a group currently worth just $16 billion. Ultimately, politics could be the clincher.