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(Bloomberg) – Fiat Chrysler wants to return to the top in Brazil and plans to spend more than its rivals to get there.
The London-based automaker was the country's 14-year-old 2015 when it lost the title of General Motors. But it is not only the crisis of the Brazilian automotive sector, with great capacity and low demand, which has harmed the group. Fiat Chrysler has been distracted by the Chrysler purchase and has been trying to position its new brands around the world.
Now plans to invest $ 14 billion ($ 3.9 billion) in Latin America, of which over 90% Mr. Antonio Filosa, president of the region, during an interview in Sao Paulo Monday. The company will also launch 25 models in the country by 2022, including 15 Fiat models and 10 Jeep and Ram models, and this number may increase.
The investment is part of the 45 billion euros (R $ 200 billion) business plan for 2018-2022 announced on June 1st. Resources will be used to develop products, engines and new technologies. In Latin America, the Fiat brand will receive $ 9 billion, the remaining $ 5 billion for Jeep and Ram.
"Brazil will be Fiat's main development region for the future," Filosa said. "We are the engine of the Fiat brand."
FCA's investments in Latin America compare to General Motors' $ 13 billion for 2014-2020 and Volkswagen's $ 7 billion by 2020
Among the launches planned For the Italian brand, Filosa said that three of them will be called commercial vehicles, or UVs, in response to customer and dealer demands. The models will address "the part of the market that has not been met before and which represents a higher average profitability for the company," he said.
The goal for Latin America, according to the executive, is to achieve profitability around double digits Over the next five years, until 2022. And the UV will contribute in this direction, because "this market share has a purchasing power, so let's get closer to the premium part of the Latin American market," said Filosa
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