Fiat Chrysler Posts 7% Growth Worldwide

Fiat Chrysler Automobiles NV sold 4.75 million vehicles worldwide last year, up 7% from 2013. About half the volume came from the company's Chrysler unit in North America.

FCA's growth rate was well above those of industry leaders Toyota, Volkswagen and General Motors. Analysts say the results lend credibility to CEO Sergio Marchionne's ambitious aim of reaching 7 million cars in 2018.

Marchionne says FCA expects its volume to surpass 5 million vehicles this year. He predicts strong demand in the U.S. for the Italian-made Jeep Renegade mini-SUV and sibling Fiat 500X mini-crossover.

FCA should return to profitability in Europe by 2016, Marchionne adds. He points to cost cutting programs and a €48 billion plan to introduce 20 new or updated models by then.