Chrysler Group is making a big bet on sport-utility vehicles at a time when rising petrol prices have focused attention on fuel efficiency, the Wall Street Journal reported on Monday, according to Reuters.

The newspaper reportedly said Chrysler is preparing five all-new SUVs for launch over the next few years as part of a product offensive that will also include a two-door Challenger sports coupe to compete with Ford's Mustang, according to dealers and consultants briefed on the company's plans.

The new SUVs mostly fall in the small and mid-size categories that have continued to sell well despite rising petrol prices that have hurt demand for larger SUVs, the Journal reportedly said.

According to Reuters, it said DaimlerChrysler's supervisory board is set to see a presentation of some or all of the SUVs and a half dozen or so redesigns of existing Chrysler Group models at a dinner meeting on Tuesday night at the US unit's design centre in Auburn Hills, Michigan though the plan is still subject to change.