The famed but oft-disrespected Alfa Romeo luxury car will be getting a $7 billion makeover over the next five years.
Company officials announced that by 2018 there will be eight new models, including compact cars, large sedans and utility vehicles. The new models will be designed and built in Italy, marking a reboot of the iconic race car that has never sold well, according to Forbes.
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The relaunch coincides with the first time the Alfa Romeo will have a showroom in the car’s 104-year history.
Harald Wester, brand chief for Fiat Chrysler Automobiles, recently highlighted the vehicle’s five key attributes that will be emphasized as part of the company’s five-year strategy including “advanced, innovative engines; a perfect 50-50 weight distribution; a set of unique technical solutions; class-exclusive power-to-weight ratios, and groundbreaking, distinctly Italian design.”
“It took us many years to learn this lesson,” Wester said. “With the exception of style, the DNA of Alfa Romeo had not been respected.”
Wester went on to say that German competitors have held a competitive advantage over Alfa Romeo while the Italian automaker has fallen behind in credibility.
The production of some of the new models is expected to begin in the middle of next year and continue through 2018 with global sales projections set at $400,000 for that year.
Beginning in 2015, Fiat’s 4C sports car, introduced in 2013, will be offered in the U.S. but company officials haven’t indicated which of the new eight models of the Alfa Romeo will also be sold in the U.S.
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