Fiat CEO Marchionne is optimistic about Alfa Romeo outlook

Article by Anita Panait, on December 4, 2013

Fiat chief executive Sergio Marchionne is hoping that investments amounting to billions of euros on Alfa Romeo will eventually allow the sporty brand to surge both in sales and profits. For 2013, Alfa is expecting to sell just below 100,000 units for the first time since 1969. Marchionne's newest turnaround plan for Alfa – his fourth since 2004 – bears the same goals as the one set for sister brand Maserati. Under the plan, Alfa will be concentrating on developing premium vehicles that will be exported around the world.

Likewise, Marchionne considers an effective Alfa relaunch as crucial to his plan to bring back Fiat’s auto division to profitability in Europe by 2016. Fiat posted EUR700 million ($928 million) in losses in 2012 in Europe while Alfa has yet to post a profit since Marchionne took over Fiat.

He remarked late October that they will unveil more of the plan to reshape the Alfa Romeo platform at the end of the first quarter of 2014. Marchionne said he would unveil a new five-year strategy for Fiat Group and Chrysler in 2014, most likely in late April. He remarked that the five-year plan will be based on the “thorough assessment" of Alfa Romeo and Fita’s other automotive brands.

Arndt Ellinghorst, senior managing director of International Strategy & Investment, quipped that “Alfa is great brand with no industrial plan.” Ian Fletcher, a senior analyst at IHS Automotive, remarked that the new Alfa strategy could fall short in terms of execution since Chrysler and Fiat's other European operations also requires a lot of attention.

Topics: fiat, ceo, alfa romeo

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