Fiat Chrysler Ending Production In U.S

Fiat Chrysler has announced it would be ending its automobile production in the U.S early next year. Instead, their U.S assembly plant will focus entirely in the production of pickups and SUVs for the Ram and Jeep Brands, while the other car models will be made in Mexico, Canada and other foreign nations.

The Decision to end car production in the U.S is part of the CEO, Sergio Marchionne's multi-billion dollar plan to increase profit margins to match its competitors. 

"By the time we finish with this, hopefully, all of our production assets in the United States — if you exclude Canada and Mexico from the fold — all those U.S. plants will be producing either Jeeps or Ram," Marchionne said Wednesday during a conference call with Wall Street analysts after the automaker reported second-quarter earnings.

"There will be no passenger cars that will be produced in the U.S., and therefore, our expectation is that concentration will give us the possibility to get very close" to the 12.1% profit margin that General Motors reported as part of its second-quarter earnings last week.

Marchionne has been trying for years to increase its North American profit margins and match crosstown rivals Ford and General Motors. His realignment will help the automaker finally reach that goal.