Fiat CEO Segio Marchionne has put the VW-Alfa Romeo rumors to rest...for now. Alfa will officially stay under its Italian parent's wing for at least a little while longer as Marchionne attempts to revive the ever-struggling Italian luxury automaker.
Alfa Romeo, as you may know, is not exactly pulling its weight; it is estimated that Fiat loses over $400 Million a year because of the upscale brand, which Marchionne says will have to move 300,000 units annually to earn money. For the record, Alfa is on pace for ~105,000 units this year, and Marchionne wants to hit 500,000 units by 2014 with the help of new models and the US market (possibly in 2012).