Sergio Marchionne, chief executive officer of Fiat Chrysler Automobiles N.V., which became a public company in 2014, criticized the auto industry for failing to allocate capital in a manner that would lead to better outcomes for investors in the companies. Marchionne, who has been a top auto executive for eleven years, said he’s not hopeful that automakers will take steps to invest and collaborate wisely during the current expansionary cycle of sales, which began in 2010. FCA last year sold just over 2 million cars and trucks in the U.S., a 16.1% increase; the company also sold just over 1 million Jeep branded vehicles worldwide.
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