Fiat Chrysler Automobiles has provided weakened guidance regarding its projected profits and free cash flow for this year. The announcement came laced with one interesting nugget of information regarding the possibility of a midsize pickup truck.
Last June FCA, under the leadership of former CEO Sergio Marchionne, rolled out its multi-year plan for each brand. When discussing the future of the Ram brand the automaker confirmed it would produce a new Ram midsize pickup by 2022.
During the recent call with investors, FCA CEO Mike Manley was asked whether or not the midsize truck was still in the cards for the 2022 timeline. Manley replied that the company has not yet approved it for production, according to Reuters.
The answer was given in the context of discussing how the company’s capital expenditures are expected to rise over the next two years. Manley suggested the majority of the increase stems from a pending redesign of the Jeep Grand Cherokee and Jeep Grand Wagoneer, two products will certainly have a positive impact on FCA’s profits.
Manley did not provide any details as to when FCA will make a final decision on the Ram midsize pickup.