By exploiting Argentina’s illegal currency market, buyers are extracting 39 percent discounts on luxury imports such as the Porsche 911 Carrera S sports car and creating the biggest foreign auto boom in five years.
Ever since Sergio Marchionne snuck in to see the “The Graduate” as an underage teen in the 1960s, he’s had a soft spot for Alfa Romeo, the maker of the Spider Duetto convertible Dustin Hoffman’s character drove in the film.
The trust responsible for paying the health-care costs of some union retirees of Chrysler Group LLC faces $3 billion in unfunded obligations as it works to get the most for its stake that Fiat SpA wants to buy.
Fiat SpA Chief Executive Officer Sergio Marchionne , rejecting overtures from Volkswagen AG, says Alfa Romeo isn’t for sale. That means at least two more years of depressed profit for the Italian company’s shareholders.
Fiat SpA will develop a successor to the iconic Alfa Romeo Duetto Spider with Mazda Motor Corp. as part of a plan to return the brand to the U.S after almost 20 years, a person familiar with the matter said.