Fiat and Chrysler expect combined car sales to total 4.2m units this year, and to rise to nearly 6m by 2014, chief executive Sergio Marchionne has said.

Fiat has had management control of the US brand since a 2009 bailout deal with the US and now owns 53.5% of the American automaker.

Speaking at the Confederation of British Industry’s annual conference in London, Marchionne also said he expected further consolidation in the car industry.

“We’re bound to see the elimination of marginal players going forward, I believe we’ll end up with just five to six players whose success will be based on sharing architecture, at a global level,” he said.