Marchionne laughs off Ferrari, Alfa Romeo speculation
By Greg Migliore, AutoWeek
Fiat CEO Sergio Marchionne laughed off speculation that two of his company's most storied brands, Ferrari and Alfa Romeo, are for sale.
“Oh please,” he said in response to an AutoWeek question at the Los Angeles auto show on Wednesday.
He later added, “I think we're going to hold tight and fight.”
Marchionne is CEO of Fiat, which owns storied Italian sports-car brands Alfa Romeo and Ferrari. It also owns the Fiat and Lancia brands and runs American automaker Chrysler, of which Marchionne also is CEO.
Volkswagen chairman Ferdinand Piech has openly lusted after Alfa Romeo, and Reuters reported that a Ferrari stock offering was also an option for Fiat. There has also been speculation Fiat could sell stakes in Ferrari or Alfa.
Still, Marchionne did not appear eager to sell either of his spotlight brands during an appearance at the L.A. auto show.
“I can sell you one Ferrari,” he said, clad in his trademark black sweater and a blue-checked shirt.