Alfa Romeo to Become Stand-Alone Company?

Fiat SpA intends to turn its struggling Alfa Romeo unit into a separate company, according to Automotive News Europe, which cites unidentified sources.

The move would give Alfa its own publicly disclosed profit and loss statement, thereby clarifying its ability to be a viable business, according to an ANE source.

Fiat-Chrysler CEO Sergio Marchionne is expected to announce the plan on May 6 when Fiat announces its latest five-year business goals at Chrysler headquarters outside Detroit.

Last year Alfa's sales plunged 56% to 74,000 units. Marchionne's latest plan to revive the brand involves the launch of six new rear-drive models that include an SUV, ANE says. It adds that top-end models will come equipped with engines developed by Fiat sister division Ferrari SpA.