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DETROIT (MarketWatch) -- Chrysler lifted the hood Wednesday on a five-year plan to revive its flagging fortunes, pledging through its alliance with Italy's Fiat to boost sales and return to profitability with a "soulful" new lineup.

The fresh crop of vehicles will include three new Dodge sedans, with the first hitting showrooms in 2012, and perhaps a midsize truck even sooner. Several revamped and new models are also on the way from Chrysler, Ram and Jeep.

If things go according to plan, company officials predict Chrysler will break even next year and repay its debt to Uncle Sam by 2014.

Chrysler Chairman Robert Kidder kicked off the day-long presentation to hundreds of journalists and industry analysts gathered at the Chrysler Tech Center in Auburn Hills, Mich., by saying the company's top priority is to invest to create a compelling brand and product offerings.

"In short, there is no 'business as usual' at Chrysler," he said. "There is incredible commitment to and energy for change."

Chrysler's new chief, Sergio Marchionne, followed up by saying Chrysler has managed to grow its cash pile to $5.7 billion, up from $4 billion in June.

He also said Chrysler had been able to stem losses on an operating basis in September.

It's among the first glimpses of Chrysler's financial condition since it emerged from bankruptcy nearly five months ago.

"The new Chrysler is being incredibly parsimonious ... cheap," Marchionne said.

Chrysler CFO Richard Palmer said he expects the automaker to sell about 2.8 million cars and trucks by 2014, up from 1.3 million in 2009, with the Jeep and Chrysler brands leading the improvement.

He explained that the forecast is based on the U.S. market growing from 10.5 million cars and trucks in 2009 to 14.5 million in 2014.

Palmer said he expects Chrysler to break even in 2010 and post operating earnings of up to $8.5 billion in 2014, by which point it will have repaid the billions of dollars in federal loans it received during the worst economic downturn to rattle the industry in decades.

He added that a public offering is not likely before 2011.

Fiat , of which Marchionne is also CEO, took a 20% stake in Chrysler in exchange for technology transfers and management expertise as part of Chrysler's trip through bankruptcy. That stake could rise to 35% if and when certain milestones are met, such as the production of a small, fuel-efficient car in the U.S.

Meanwhile, a Chrysler union retiree trust holds a 55% stake in the company while the rest is held by the U.S. and Canadian governments.

Chrysler, with a dearth of fresh product, has been struggling to draw buyers to its showrooms even as crosstown rivals are starting to show new signs of life.

While General Motors and Ford posted U.S. sales gains in October, Chrysler saw the numbers of vehicles sold drop nearly a third from where they were a year ago. Read related story on GM's and Ford's October sales gains.

New lineup

In an effort to spur demand, Chrysler said it will roll out three new Dodges in 2012 and 2013, including a compact, a subcompact hatchback and a midsize sedan. A midsize truck is also being mulled for production in 2011.

Ralph Gilles, head of the Dodge brand, said risk-taking will be in evidence in its new crop of cars and trucks. "Every car that we have will have a soul," he said.

Chrysler, through a complete makeover of its entire Jeep brand lineup by next year along with a strong overseas push, also plans to sell 800,000 Jeep vehicles by 2014, that's up from fewer than 500,000 in 2008.

Overall, 21 new vehicles, co-developed with Fiat, will be launched between 2010 and 2014, the company said, adding that 75% of the current vehicle line will be renewed or modified next year. The lineup will improve by 25% during that time frame, Marchionne said.

With regards to Chrysler's woeful quality reputation, Doug Betts, the executive in charge of fixing it, said the company has overhauled how it goes about addressing the problems.

"We are not in denial," he said. "We've got an issue to deal with both in terms of what people think of our quality and the reasons behind what they think."