"When we got involved with Chrysler in 2009 we were selling roughly 200,000 Jeeps. And I remind everybody in this room that Jeep was [formerly] owned by a very competent auto maker across the border here who tried for years to grow it.


"So the, the DNA of Jeep did not transform itself post-bankruptcy and, and certainly not since I got involved in the business, but since we took it over, it went from about 200,000 vehicles to 732,000 in 2013. It's going to break 1,000,000 this year. So miracles of the ones that I made reference to are possible.


"The question is, is it likely [with Alfa]? The [successful] positioning of Alfa, in my view is contingent on two things, the ability to distribute it effectively, but more importantly it hinges on product and whether it can effectively pitch itself against German benchmark performance.


"In the absence of Chrysler, I think that the 400,000 figure that I gave you would have been an absolute nonsensical number. I could never [have suggested it] if we didn't have access to distribution in NAFTA, which the association with Chrysler has given us.


"And so our network is going to be developed from the best of breed from the US side, and it will give us the necessary capacity to make sure that if we have the product then we can effectively distribute and achieve penetration as desired.


"The more fundamental question, which I think is the one that we have been working at very diligently over the last two-and-a-half years is the product itself – product and powertrain.


"And for that I can only threaten you with a reveal of a decent product on June 24, 2015. I cannot tell you anything else other than the fact that I know what we've done.


"So I just ask you to bear with me while I continue to toil away to make that this damn thing run. I was at the circuit on Sunday, and I test drove the mules, some of which had similar technology [that will be used in production models].


"I think we're making great progress towards getting to the right end. I was a driver of German makes before I went to Fiat, so I think I understand. I used to drive a BMW M5 when I was young and foolish, and I always recognised that they had phenomenal know-how and I used to love the car.


"And I've driven other [German contenders], and I can tell you honestly that, based on what I've seen, we're on a par, if not better. Just give us time.


"You'll have a chance to drive the hell out of it and find out whether it really will withstand a head-to-head competition with the German competition. Just wait, we're less than a year away."

a reveal of a decent product