Fiat Chrysler (NYSE: FCAU)announced plans to stop selling individual brands to China as the automaker is depending on their Jeep brand to drive future profits. The Jeep sport utility vehicle brand could help Fiat double their net profit, with current share price surging more than 30% this year. This year, the Jeep brand is targeting sales of 2 million vehicles while the Ram brand is expected to operate on their own, driving sales. Target for this year includes a plan to eliminate all debt and generate up to $6.14 billion in net cash.
The automaker also has plans to shift production of their Ram heavy duty pickup trucks from Mexico to Michigan in 2020, building commercial vehicles for sale globally. A $1 billion boost to the company will be provided as well following the U.S. tax code overhaul that was passed in December.
“We’re not going to break up anything,” Chief Executive of Fiat Chrysler Automobiles, Sergio Marchionne said at North American International Auto Show in Detroit. “We have no intention of breaking it up and giving anything to the Chinese.”