Fiat has poured cold water on widespread speculation it will sell its Alfa Romeo subsidiary to Volkswagen.
Reports in Germany have raised the possibility Volkswagen’s significant cash reserves could put it in a position to buy the Italian brand, but Fiat has rejected the proposition.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“It is absolute nonsense,” a Fiat spokesman in Turin told just-auto. “It is not nonsense they might be interested but there is no interest from our side from Alfa Romeo.
“It [Alfa] is an integrated part of our brand portfolio and is part of our future product strategy for the next five years. It is not on the table.”
And despite rumours persisting Volkswagen might look at Alfa Romeo, the German automaker remained equally tight-lipped on the situation.
“For sure we have seen the press reports but we can’t comment on that,” a Volkswagen spokesman in Germany told just-auto.
Speculation linking Volkswagen more closely with the Italian company has also highlighted the German manufacturer’s recent majority purchase of Italdesign, involved with Alfa Romeo’s 159 and Brera models.
