Detroit - Fiat Chrysler CEO Sergio Marchionne has squashed rumours that the company could sell its much coveted Jeep brand to another carmaker or split up in any way.
Speaking at the Detroit Motor Show on Monday, Marchionne said the Jeep SUV brand could help FCA double its profits. Jeep is one of several brands in a portfolio that also includes Maserati, Alfa Romeo and Fiat.
"We're not going to break up anything, I never suggested that we would break (FCA) up and give it to anybody," he told a news conference.
FCA's share price has shot up more than 30 percent so far this year on a bullish outlook for the motor industry, Jeep growth expectations and media speculation that Marchionne's final year at the helm could prompt strategic deals such as spin-offs, technology alliances and disposals.
The popularity of the Jeep brand, which is targeting sales of 2 million vehicles this year, has prompted talk that it could be spun off from the group, as happened with Ferrari, or sold off completely. By comparison, Jeep sold just 1.42 million vehicles in 2016, the most recent full year for which figures are available.