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Alfa Romeo Narrows Losses
Fiat Chrysler Automobiles NV’s Alfa Romeo brand is narrowing its losses but won’t become profitable until at least next year, according to CEO Sergio Marchionne.
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Fiat Chrysler Automobiles NV’s Alfa Romeo brand is narrowing its losses but won’t become profitable until at least next year, according to CEO Sergio Marchionne.
Last spring Marchionne told analysts that Alfa would report a profitable fourth quarter for 2017 and achieve full-year profitability in 2018. He conceded this week that the brand needs more volume, even though its recently launched Giulia sport sedan and Stelvio SUV/crossover are selling well.
FCA doesn’t report sales or production figures by brand. But Automotive News Europe cites union and analyst data indicating that last year Alfa sales surged 65% to 118,000 units, and production jumped 62% to 150,700 vehicles.
Marchionne predicted four years ago that Alfa’s sales would reach 400,000 units this year, thanks to the debut of eight new models. Since then the company has scrapped the sales goals and now says the model rollout won’t be completed until the middle of 2020.
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