Alfa Romeo News
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New car sales in Germany, Europe’s largest economy, resumed declining in May as buyers shied away from big-ticket purchases and fleet operators cut spending amid a lingering sovereign-debt crisis in the region.
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Fiat SpA is in talks for as much as $10 billion in financing from a pool of banks to buy the Chrysler Group LLC stake it doesn’t own and refinance the two automakers’ debt, people familiar with the matter said.
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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.
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Chrysler Group LLC, grappling with declining shipments and higher product costs, reaffirmed its full-year forecasts after reporting first-quarter net income dropped 65 percent.
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Classic Ferrari racers from the 1950s and 1960s, led by Testa Rossas, are the world’s most valuable motor cars, according to a ranking of auction prices.
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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.
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Fiat SpA, the Italian automaker that controls Chrysler Group LLC, said first-quarter profit fell 23 percent on costs for new Jeep model rollouts.
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Fiat SpA will produce a new Alfa Romeo roadster with Mazda Motor Corp. as part of a plan to revitalize the upscale Italian brand.
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Volkswagen AG’s Porsche debuted the revamped Panamera coupe at the Shanghai Auto Show where it sought to outshine Maserati’s all-new Ghibli to win over China’s growing ranks of luxury-car buyers.
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Fiat SpA plans to introduce the first Alfa Romeo sport-utility vehicle in the latest effort to transform the languishing nameplate into a global luxury brand to challenge Volkswagen AG’s Audi.
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