India’s launch of Jeep Brand from Fiat Chrysler Automobiles NV (NYSE:FCAU) will take place on August 31, 2016. The launch will involve the unveiling of three SUVs namely Jeep Wrangler Unlimited, Jeep Grand Cherokee and Jeep Grand Cherokee SRT. It is a huge milestone for the Italian car manufacturer and according to Patrick Foster, an automotive historian, and author; it will quickly facilitate the unlocking of Jeep’s extraordinary potential especially in the United States.
The Jeep Brand was first showcased in Auto Expo 2016 and what follows are just signs of a bright future. It has become one of the most expected SUV brands in India according to President and Managing Director, FCA India Automobiles, Kevin Flynn. Over the last five years, the brand which will be marking its75th anniversary has garnered a 22% growth, and there is much more exponentially in the future. Having achieved a score of 1 million worldwide sales in 2014 the new target is now on reaching 2 million by 2018.
The global growth of Jeep
FCA is keen on supporting its production of a new Jeep vehicle in Ranjangaon, India which is expected to kick-start in 2017. It is for this reason that the company has gotten into a manufacturing joint venture, with Tata Motors worth of $280 million. That aside production is set to go to other places once the company puts other models on offer.
The company is already having a $350 million budget for a plant in Illinois and $700 million for the Toledo Assembly Complex. The entry into the US will account for 70% of all Jeep sales. However, FCA is also seeking more production markets from the given that it is has began building Jeeps in Italy, Brazil, and China.
With the high market expectancy of the upcoming model, Mark Allen, the top designer for Jeep seems to promise that the next-generation Jeep Wrangler has much more to offer than what is already on the market. Allen further adds that all that what people do not like about the current one has been taken care of in the new one.