Fiat Postpones Alfa’s U.S. Return Again

Italy's Fiat SpA had vowed its Alfa Romeo brand would make its often-delayed return to the American market at midyear with the 4C two-seater.

But Fiat CEO Sergio Marchionne tells reporters at the Detroit auto show that the marque is not ready for the U.S. Marchionne now says the brand will need a newer model than the 4C. Alfa can't make its America debut with a "schlub product," he declares.

Fiat also expects to reduce its losses in Europe this year if the region's auto market revives in the second half and vehicle pricing improves, Marchionne tells Bloomberg News.