Fiat assumed a majority stake in Chrysler Group LLC in July. The CEO of both companies, Sergio Marchionne, said that he expects Chrysler to earn $3 billion in operating profits next year after cutting costs and giving a boost to sales.

Marchionne said that Chrysler will sell 2.4 million vehicles next year and about 2 million this year. The company can earn money by selling as few as 1.5 million vehicles, he said.

Marchionne has a goal of merging Chrysler with Fiat to cut costs and achieve more than 100 billion euros ($136.8 billion) in revenue by 2014.

“The future is a good future,” Marchionne said. “It sees Chrysler becoming a global automaker.”

- By: Omar Rana

Source: Automotive News