Rumours of discussions between Fiat and VW Group over the possible sale of Alfa Romeo have surfaced yet again, this time involving Audi on the VW side.
A report carried by Ward’s cited sources close to Fiat boss Sergio Marchionne and Audi CEO Rupert Stadler as saying that the two have been in talks about the Alfa Romeo brand as well as a possible transfer of Fiat’s Pomigliano plant to Audi. There’s also a suggestion that Fiat owned components maker Magnetti Marelli is in the mix at the high-level talks.
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There is some history of VW interest in Fiat’s Alfa Romeo brand. In 2010, VW Group supervisory board chair Ferdinand Piech said that VW wanted to acquire Alfa. When Fiat flatly rejected the idea, Piech responded that VW was ready to wait for it.
Fiat’s Marchionne has always maintained that reviving Alfa Romeo is key to Fiat Group’s future, a major plank in the company’s strategy. However, some fuel for the latest speculation and rumours is provided by the exceptionally weak financial position of Fiat Group caused by continued recession in Europe (with the Italian car market especially hard hit). Fiat is also facing a big draw on cash reserves in the US as it prepares to buy up the rest of Chrysler.
As is customary, both Fiat and Audi are denying that such talks are taking place.
