A year and a half ago Alfa Romeo announced that it would begin developments on two performance cars; the GTV, which would essentially be a 478 kW two-door Giulia QV, and an 8C, expected to be a monocoque sportscar slotting above the current 4C.
Sadly, it looks like these two projects have been put on ice as FCA Chief Executive Mike Manley doesn’t see them as viable projects for the Alfa Romeo badge as he stated in a Thursday morning company earnings teleconference, The Detroit Bureau reports.
“I’ve not been happy with the performance of Alfa Romeo,” said Manley, who succeeded Marchionne in July 2018 after the former CEO’s untimely death. “While I fundamentally believe in the brand, we must make sure any investments we make generate appropriate returns.”
These two models were part of a five-year plan in which the Italian manufacturer was set to significantly expand its current line-up. However, Manley stated that “in the near term, the new portfolio for the brand is significantly scaled back with a corresponding reduction in capital spending.” And stressed that Alfa Romeo needs to “refocus the portfolio of actions for the brand to segments and geographies where we have successfully completed.”
As for the plan ahead, Manley explains that the Giulietta will be discontinued in order to rationalise the product line-up while the Giulia and Stelvio will be accompanied by a compact SUV (likely to be the Tonale) and a small utility vehicle.
“I believe these actions will allow the brand to return to profitability,” he said during his morning call. But he quickly added that, “While there are no product actions beyond what you see here, obviously I wouldn’t rule out that possibility in the future depending upon the performance.”