Marchionne Says Fiat-Chrysler Sales Could Hit 7 Million Units

CEO Sergio Marchionne says merging Fiat and Chrysler will create a company that can produce more than 6 million units annually, and perhaps 7 million, by 2018.

Marchionne has said previously that a carmaker must reach annual output of at least 6 million units to compete globally in today's market.

He told Fiat shareholders on Monday he expects to complete the merger of Fiat and Chrysler by the end of 2014. The combination will make Fiat Chrysler Automobiles NV the world's seventh-largest carmaker.

In May Fiat-Chrysler will unveil a five-year business strategy to achieve its production target. Marchionne says the company will be able to finance the program without selling assets or raising new capital.

Last year Fiat and Chrysler sold a combined 4.4 million vehicles. Marchionne expects gains in Asia and the U.S. to push that volume to at least 4.5 million units in 2014.