Bloomberg News (Chelsea, US) - Chrysler Group LLC said it has opened 70 Fiat stores in the U.S., more than halfway to its goal of 130 locations this year, and plans to begin a national marketing campaign July 4.
Chrysler is using the Fiat 500 small car to reintroduce the Italian brand in the U.S. after Fiat pulled out almost 30 years ago. Dealerships are open in markets that should cover 60 percent of Fiat's expected sales, said Laura Soave, head of the Fiat brand in the U.S.
"In our major markets, we're starting to get filled," she said today in an interview at Chelsea, Michigan. "I'm comfortable now celebrating the arrival of the 500 in America given the network that we have in place."
Chief Executive Officer Sergio Marchionne wants to use the Fiat 500 and other new models to more than double Chrysler's global sales to 2.8 million and produce $5 billion in operating income by 2014. Chrysler reported first-quarter net income of $116 million, its first since emerging from bankruptcy protection in 2009.
The original 500 was introduced on July 4, 1957, Soave said. The new 500 features a clam-shaped hood to evoke the vehicle's traditional design. Sales this year of the 500 through May reached 3,141, according to researcher Autodata Corp.
Chrysler had conducted regional marketing campaigns in places such as Texas and Los Angeles, she said. The July 4 advertising "will be the beginning of a national rollout," she said.
She declined to provide details of the effort.
Chief Executive Officer Sergio Marchionne wants to use the Fiat 500 and other new models to more than double Chrysler's global sales to 2.8 million and produce $5 billion in operating income by 2014. Chrysler reported first-quarter net income of $116 million, its first since emerging from bankruptcy protection in 2009.
Fiat SpA (F) is buying the U.S. government's remaining stake in Chrysler, which will give the Turin, Italy-based automaker a 52 percent stake on a fully diluted basis. Chrysler is based in Auburn Hills, Michigan.
