Alfa Romeo’s signature colour may be red, but the Italian brand is back in the black.
Stellantis CEO Carlos Tavares said last year he had given each of his menagerie of brands a “time window of 10 years and [given] funding for 10 years to do a core model strategy”.
Alfa Romeo has evidently passed the test, though Mr Tavares noted it had become profitable before the Tonale – set to increase Alfa Romeo’s volumes considerably – had even reached the market.
“Alfa is going very well,” Tavares told Autocar, adding it’s set to post record financial figures this year.
“The business has been turned around and it is profitable. It is now in a position to fund its own future – it’s safe.
“This will be a record year for the brand. Alfa is set for the next 10 years. Since we created Stellantis, its turnaround has been spectacular.”
Said turnaround now opens the door for lower-volume models, which Alfa Romeo had previously said it was holding off on doing until it reached profitability.
The brand’s CEO Jean-Phillippe Imparato teased earlier this year the world will “see something sporty in the first half of 2023”.
Said model could be a combustion-powered sports car packing a mid-mounted twin-turbo V6, a last hurrah for petrol power at Alfa before it goes EV-only in 2027.
Mr Imparato also said earlier this year he hoped to launch two halo cars inspired by the 33 Stradale and Duetto.
“If one day, I’m able to say okay, ‘Alfa Romeo is secure now’. [Then] Duetto and 33 Stradale are my favourite options for the future. I would like to bring [them] onto the market. We can dream,” he said.
In addition to the upcoming sports car, Alfa Romeo is also planning a new electric flagship in 2027, as well as an entry-level crossover expected to be built alongside the Jeep Avenger and an upcoming Fiat model in Tychy, Poland from 2024.
These underpinnings support 101-118kWh batteries, 400V or 800V technology, and single- or dual-motor electric powertrains with motors each producing between 150kW and 330kW of power.
STLA Large vehicles are promised to offer up to 800km of range.
Alfa Romeo is one of three brands in what Stellantis calls its Premium tier, with the other two being DS and Lancia.
Mr Tavares said profitability for DS “has always been very high”, though combined the three brands’ contribution to Stellantis’ bottom line is “very limited compared to peers” – something it’s working on.
DS and Lancia will go EV-only in 2024, with Alfa Romeo following in 2027.
Lancia, easily the most neglected brand in the portfolio of the former Fiat Chrysler Automobiles, currently sells only one model in one country: the Ypsilon city car in Italy.
A new Ypsilon is due in 2024 with a choice of electrified or full-electric powertrains, while a small hatchback and mid-sized crossover – tipped to be called Delta and Aurelia – are due in 2028 and 2026, respectively.