"FCA’s Jeep boosted sales almost 190 percent in the first half of 2015 compared with the same period last year to 42,400 from 14,700, according to data from the European Car Manufacturers Association.
Jeep’s performance was boosted by its new compact SUV, the Renegade, according to IHS Automotive analyst Tim Urquhart.
“Jeep’s massive uplift had a lot to do with new model offerings greatly expanding the product range, with the Renegade hugely key.
The Renegade is the right product at the right time in the European market with its efficient Fiat powertrains. It’s a little bit more off road and rugged than the competition,” Urquhart said in an interview. “Jeep’s market potential may still be deeply underestimated, and may be the world’s best positioned auto brand over the next three to five years,” Morgan Stanley analyst Adam Jonas said in a recent report.
The opportunity to expand the model range from three main lines – Grand Cherokee, Cherokee and Wrangler to six – Renegade, Jeepster and Wagoneer – increases the addressable market size significantly at both the high and low end, he said.
“Our (global) Jeep brand volume forecast of 1.73 million units by 2018 implies a 15 percent (annualized growth rate) for the brand, roughly four to five times the growth we could anticipate for the broader market,” Jonas said.
IHS Auto’s Urquhart said in Europe at least Jeep will make a huge contribution, with sales of Grand Cherokees, Cherokees, Wranglers and mostly Renegades reaching at least 80,000 this year, up from 38,000 in 2014. Sales will peak at 87,000 in 2019 before slipping back to 83,330 in 2020.
“The Renegade is a game changer for them,” he said