Jeep’s New Sales Target: 1.5 Million by 2018

Chrysler Group LLC, which said in January it hopes to achieve worldwide sales of 1 million units in 2015, aims to surpass 1.5 million annual sales in 2018, says Automotive News, which cites unnamed sources.

Jeep sold a record 731,600 units last year. Its new target will be revealed on Tuesday when Fiat-Chrysler announces its five-year business plan, according to the newspaper.

The company expects results to be driven by strong demand in China and South America. Jeep will begin building its new Renegade mini-SUV in Melfi, Italy, later this year at an annual rate as great as 150,000 units per year. AN says the model also will go into pilot production in Pernambuco, Brazil, this year.

Meanwhile, Jeep production is set to resume in China, the brand's second-largest market, in 2015 after a nine-year hiatus. Production will be launched with Chrysler partner Guangzhou Automobile Group in Changsha.