Fiat Troubles Delay New Chrysler Models

Chrysler Group LLC has canceled four new models for the U.S. and postponed three others that were due this year because of the financial struggles of Fiat SpA, its majority owner.

CEO Sergio Marchionne tells The Wall Street Journal that Chrysler is stretching the development timetable for a new crossover vehicle and two small models. He says the company opted to delay some vehicle programs to ensure a timely launch for the Grand Cherokee SUV. "It's a question of what we invest money in first," he tells the Journal.

The product plan Fiat-Chrysler unveiled in 2009 promised six new models this year, including four built by Fiat.

But the new four-year U.S. product schedule Marchionne unveiled on Wednesday shows no debuts for the Chrysler and Dodge brands this year. Alfa Romeo, Fiat, Jeep and Ram each will introduce one model. Only the Fiat and Alfa will be made by the Italian carmaker.

Next year Chrysler, Jeep and Ram will each launch one model all three delayed from 2013. But Dodge, Fiat or Alfa get nothing. The schedule picks up in 2015: three new Chryslers, two Jeeps, one Dodge, six Fiats and four Alfas. The SRT performance line won't launch a new model until 2016, although a number of vehicles will get updates.