Chrysler and Dodge to be removed from Europe

Sergio Marchionne, CEO of Fiat and Chrysler group, said that the plan is to increase global sales of the Chrysler Group from 1.3 million units in 2009 to 2.8 million units by 2014.

Marchionne shared a five-year plan which said that Chrysler and Dodge products will be rebadged as Fiats and Lancias across Europe. The company is understood to have taken the decision of allowing Jeep to remain operational in its current capacity. Jeep alone has been responsible for effecting nearly half of Chrysler Group's sales outside North America this year.

Additionally, as reported by Adgully earlier, GM has scrapped the plan of selling off its two legendary brands ' Opel and Vauxhall ' to Canadian auto parts maker Magna. GM is seeking to benefit from funding from the European governments. This decision is expected to result in over 10,000 job losses.