Surprise, surprise. FCA is pushing back the debut of even more Alfa models based on weakness in the Chinese market.
Already we know that the Giulia's showroom debut has been pushed back, but now news comes that both the Alfa SUV and the larger Alfa sedan will not meet their targets either.
“After selling off the family’s silver, Fiat is still loaded with debt as Alfa Romeo is far away from generating cash,” Ian Fletcher, an analyst at IHS in London said to Bloomberg. “While it’s a rational decision to step back from some projects and concentrate resources on the most important ones, the carmaker isn’t getting nearer to its 2018 sales target”
But the real thorn is the Chinese market. Saint Sergio was counting on robust growth of Alfa Romeo in China in order to fund the future of the brand. Marchionne now saying that the brand must "rethink" its strategy and shift to product development “more ideally suited” to North America and Europe.
The whole thing is starting to sound like a preposterous Ponzi scheme.