Chrysler Brand's CEO Al Gardner says the revamped 200 series is "sophisticated, elegant and priced in the heart of the market." Gardner says the new 200, priced starting at $21,700, will go head-to-head with the "Camrys, Altimas and the Accords." The new 200, which will be produced in a $1B state-of-the-art Sterling Heights, Michigan plant, will go on sale this spring. Gardner isn't ruling out the possibility of a Chrysler-branded small sport utility vehicle as the automaker looks to expand its product offering in the growing small and midsize SUV market but he does caution that he'll be careful not to cannibalize sales of Dodge, Jeep or Ram. TheStreet's Ruben Ramirez reports from Detroit.

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