The broadening global financial crisis has forced Fiat Group Automobiles to postpone two targets it had set two years ago for 2010: returning the Alfa Romeo brand to the United States, and selling 300,000 units a year in China.
Alfa's return to the United States will be delayed by a year to 2011, Fiat Group and Fiat Group Automobiles CEO Sergio Marchionne said Thursday. The new 2010 goal for Fiat sales in China is now 50,000.
Alfa's U.S. return was originally planned by Marchionne for the final quarter of 2009, then later delayed to the 2010. In pushing that back another year, Marchionne told analysts, because "it would be simply crazy investing for returning Alfa in such a depressed U.S. market."
Read Article