Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Study: Border Tax, NAFTA Exit Would Hurt U.S.
The U.S. auto industry would lose at least 31,000 manufacturing jobs and 450,000 units of annual sales if the U.S. imposes 35% tariffs on cars from Mexico, as President-elect Donald Trump has vowed to do.