Alfa Romeo and Ferrari sale to Volkswagen is just a dream, says Marchionne

Article by Christian A., on November 12, 2010

Fiat S.p.A. CEO Sergio Marchionne and Volkswagen CEO Martin Winterkorn are describing a sale of its Alfa Romeo and Ferrari brands to its German rival as simply a “dream.”

At an event in Turin, Italy, Marchionne said that VW’s interest in Alfa Romeo, and its intentions for Ferrari “are nice dreams.” A Fiat spokesman has confirmed that Marchionne had made this statement.

Last September, Volkswagen supervisory board Chairman Ferdinand Piech said that VW is “monitoring” Fiat's position on Alfa Romeo to know if or when Fiat wants to sell.

In the November edition, Germany's Manager Magazin said that according to unidentified observers in the industry, Piech has its sights set on Ferrari. At the Turin event, Winterkorn said that Alfa Romeo “is just a dream,” adding that it “makes gorgeous cars but nothing more.”

On Sept. 30, Marchionne said that he doesn’t want to sell Alfa Romeo and in fact, it seeks to rebuild the brand through the development of new models, which will reenter the US after it had left in 1995.

The CEO estimates that for the division to make a profit, it has to deliver 300,000 cars a year. It has already set a goal to reach this sales target in 2013.

Fiat doesn't give separate figures for Alfa Romeo. Last month, Max Warburton, a Sanford C. Bernstein analyst in London, estimated that the division is likely losing about 300 million euros ($410 million) each year. [via autonews - sub. required]

If you liked the article, share on:

Comments

Recommended

Mazda seems too far ahead in Safety technology for having four of its vehicles chosen as the safest on the road. Very recently, the Insurance Institute for Highway Safety has...
by - June 22, 2017
The automotive world is intensely competitive given the growing number of players, but the British car manufacturer is adamantly holding on to its spot. The 2018 Jaguar XF Sportbrake, priced...
by - June 22, 2017
Audi’s all-electric supercar, the R8 e-tron, had been discontinued last October after being in the market for under two years. The electric vehicle was then exclusive to the European market...
by - June 22, 2017
Dodge has made it clear to everyone, including its potential buyers, that the Challenger SRT Demon is a street-legal drag car - that it is unlike any of your ordinary...
by - June 22, 2017
After a number of failed attempts, Tesla finally gets an Arizona dealership license by winning a court battle that allows them to sell directly to consumers. The automotive dealer license...
by - June 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries