Fiat CEO, Mr Sergio Marchionne, said the company’s Alfa Romeo brand is not for sale, but says he understands its shortcomings and is working to determine a strategic direction for the luxury sports car unit.
Fiat, which took a 20 per cent stake in Chrysler Group last year as part of the US car manufacturer’s bankruptcy restructuring, is also close to deciding whether to reintroduce Alfa Romeo vehicles to US consumers.
“We need to be realistic on what Alfa should do,” said Mr Marchionne.
Last month, Fiat Chairman, Mr Luca Cordero di Montezemolo, dismissed a suggestion by analysts with asset management fund Sanford Bernstein that Volkswagen could be the right buyer for money-losing Alfa Romeo.
“We will present the new Alfa that substitutes the 147, and we think there are also very important opportunities for Alfa Romeo in the United States,” Mr Montezemolo said at the time.
Alfa’s new-car sales have declined steeply in the past decade as its range became older and new products were delayed.
Last year, Alfa sold 103,000 new cars in Europe, down from 203,000 units in 2000. The brand has lost between 200 million and 400 million euros (AUD$315 million to $630 million) a year in the past 10 years, according to industry sources. Fiat does not release separate financial results for any of its brands.
Mr Marchionne is expected to announce the future of Alfa early next year, when the Italian automaker presents its 2010 to 2014 business plan.
In Detroit on Monday, Mr Marchionne, who heads both Fiat and Chrysler, said Chrysler’s iconic Jeep brand would be the most immediate way for the companies to tap China’s rapidly growing auto industry, which overtook the United States as the world’s largest car market last year.
Mr Marchionne said the Fiat-Chrysler alliance has started to discuss ways to promote the Jeep brand in China and boost the combined company’s presence there.
With Autonews EU
Bang on a Chrysler rear-wheel platform, and a Maserati-developed V8 to the 166 replacement and I think you’ll have Alfistis and enthusiasts alike knocking on your door, Sergio!
Agree….spot on Baddass.
As a previous Alfa owner of a rear wheel drive 3.0V6 Alfa 75 model it was supurb in the corners with its trans-axle rear mounted gearbox and double wishbone front suspension, and inboared rear mounted brakes.
A real drivers car and this was in the late 80′s before they went FWD.
hey guys, yes Alfa has had some Awesome RWD cars, as far back as the 105′s… but you all have Forgotten that at the same time (and pre Golf) Alfa had some bloody brilliant FWD cars as well Check out Alfa Sud… their knowledge and understanding of FWD is second to none…
Thank you so much for this honor! And thank you for turning me on to so many cool blogs and websites!
What are you talking about dude? And to whom?
Probably the ‘honour’ of leaving their post (which is a blatant advertisement).
alfa make beautiful cars and they will bounce back
Bring back RWD!!!
I love the 159, but is it any better than a Mazda 6? No I don’t think it is and so why pay another $15,000 for one?
Reduce your prices Alfa and you will be on a winner.
Detroit has a chance to show the nation and the world that they’re listening to the cries for greater fuel efficiency! The Electric Fiat 500, the Toyota FT-CH, and the Honda CR-Z hybrid are all great eco-friendly cars of the sort Americans are now demanding: let’s hope for more like them as the Auto Show continues.
If you are interested in hybrids, fuel cells, or any other green technologies, check out http://www.greencollareconomy.com. It has hundreds of case studies on emerging green tech and the largest b2b green directory on the web.
Does this mean they will be pulling out of Australia and leaving behind orphans?
I reckon!