Fiat-Chrysler CEO Sergio Marchionne has an ambitious five-year plan to more than double profit and increase annual deliveries 61 percent.
So far, investors aren’t buying it.
Fiat shares fell as much as 9 percent, the most in 2 1/2 years, on skepticism that the CEO will be able to meet the 2018 targets he laid out during an investor presentation Tuesday.
The automaker’s weaker-than-estimated first-quarter results also cast doubt over the 55 billion euro ($77 billion) plan to expand Alfa Romeo, Maserati and Jeep into nameplates that can attract customers from Beijing to Berlin to Boston. In doing so, Marchionne is seeking to forge an automaker that’s big enough to challenge General Motors Co. and Volkswagen AG.