REPORT: Chrysler planning second Fiat-based compact sports sedan

For Chrysler, the cornerstone of its proposed alliance with Fiat is for the Italian automaker to supply its domestic partner with smaller, more fuel efficient platforms and drivetrains. It's been assumed that the Fiat 500 would be one of the vehicles Chrysler plans to market in the U.S., but according to a the Wall Street Journal, it may have more than a subcompact up its sleeve.

According to the report, Chrysler showed its (troubled) dealers the automaker's future products today in Auburn Hills, Michigan, and along with the all-new 2011 Jeep Grand Cherokee and a revised Chrysler 300, a "sporty little sedan" produced by Fiat was in attendance.

Chrysler's head of design, Ralph Gilles, told dealers that the automaker intends to have its own version of the car, with Fiat providing the chassis and Chrysler designing the exterior.

Although the WSJ's source didn't specify which Fiat was shown, informed speculation says that it was likely the Fiat Bravo, which would make a killer Dodge Caliber replacement and would finally provide Chrysler with a true successor to the Neon after its demise in 2006.

[Source: WSJ]