Fiat Chrysler CEO: US can make cars that meet 54.5mpg fuel efficiency standard

Technology is 'undoubtedly available' to hit the target, Sergio Marchionne says - but how much will it cost, and how would it affect demand?

The US car industry has the technology to make future vehicles meet the federal 54.5-mile per gallon average fuel economy requirement scheduled to arrive in 2025, the CEO of Fiat Chrysler Automobiles told journalists at the North American International Auto Show in Detroit earlier this week.

"There is nothing wrong with owning ambitious targets," Sergio Marchionne said at a news conference at the show, which opens to the public on Saturday. "You can see it here with all this hype about hybrids and self-driving cars and everything else; technology is undoubtedly available to make those numbers."