Fiat CEO Sergio Marchionne has made it clear that despite Volkswagen?s interest in purchasing the beleaguered Alfa Romeo, Fiat has no plans of selling the Italian brand.
Reports are saying that Marchionne has every intention of holding on to Alfa Romeo despite the brand losing $416 million a year, an estimate made by Max Warburton, a Sanford C. Bernstein analyst in London.
Fiat has already invested 2 billion on the brand and Marchionne still has plans of reviving Alfa Romeo. One of the moves he has made in doing so is bringing the car back to the US beginning in 2012 with the Giulia sedan and another SUV that the company is building in collaboration with Chrysler.
Yet despite the moves that are being made, it?s still a far-fetched assumption to think that the brand can sell 300,000 units a year by 2013 ? Marchionne?s benchmark ? especially when you consider that in the first nine months of this year, Alfa Romeo has sputtered to meet 80,000 units.
Continued after the jump.
Fiat not selling Alfa Romeo to Volkswagen originally appeared on topspeed.com on Friday, 22 October 2010 21:00 EST.
Source: http://www.topspeed.com/cars/car-news/fiat-not-selling-alfa-romeo-to-volkswagen-ar98613.html
Rene Arnoux Peter Arundell Alberto Ascari Peter Ashdown Ian Ashley
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