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The current CEO of Fiat Chrysler has announced his intention to step down as the head of the company in 2018.
It wasn’t so long ago that diesel engines conjured images of black smoke belching trucks with exhaust stacks sticking out the sides.
If Fiat ever sells Alfa Romeo, says VW chairman Ferdinand Piech, Volkswagen could take the underperforming brand and quadruple its sales within five years. Ambitious? Fiat CEO Sergio Marchionne certainly doesn’t think so.
“As long as I am CEO of Chrysler and Fiat,” he said, “Mr. Piech will never have Alfa Romeo.”
Marchionne suggested to Piech that VW should take care of SEAT, its ailing Spanish brand, before even considering the idea of adding another company to its 7-strong dossier. Piech had previously called SEAT a “foster child” in January, but had added that it was “growing fast.”
Overambition has never stopped Volkswagen in the past, however. “Volkswagen has time,” said Piech. After all, despite celebrating its 100th anniversary last year, Alfa Romeo only managed to sell 112,000 cars—well short of the 300,000 target it aimed to achieve with the new MiTo and Giuletta. A “money loser” is what Marchionne labeled it during his seven years with Fiat, claiming “I’m not sure if it ever really made any money.”
Hardly confidence-inspiring, but you can’t fault Piech for seeing a chance when it opens up, right?
[Source: Automotive News]