Alfa Romeo will reportedly become standalone company

Fiat Chrysler Automobiles CEO Sergio Marchionne plans to turn Alfa Romeo into a standalone company, Automotive News Europe reports. Marchionne is expected to announce wide-ranging plans for the brand on May 6 which will see Alfa Romeo become a stand-alone legal entity within Fiat-Chrysler, with a publicly disclosed profit and loss statement.

Alfa Romeo is currently part of Fiat Group Automobiles S.p.A., which also contains Lancia, Fiat Professional trucks and vans and the Abarth performance brand. The expected move would detach Alfa from Fiat, granting it a status analogous to that of Maserati, which until a few years ago was closely affiliated with Ferrari.

The brand has been struggling in recent years with missed deadlines and stalled new-car plans, and has not made a profit during Marchionne's entire tenure as head of Fiat (he was named CEO in 2004). In 2013, Alfa Romeo produced just 74,000 vehicles, a decline to volumes not seen since the late 1960s.

Part of the reorganization, according to sources familiar with the plans, would be a focus on more exports and a greater number of premium vehicles. Alfa Romeo is set to make its American re-debut this year, after a series of missed deadlines dating back to the introduction of the modern Fiat 500. Originally, Alfa Romeo models were supposed to join Fiat models in the U.S. almost immediately, though the date of re-entry ended up being pushed back several times. The Alfa Romeo 4C is the first Alfa Romeo model that is expected to land in the U.S., followed by a number of other models which have not yet debuted.

Read our review of the Alfa Romeo 4C here

Those future models are expected to fill out gaps in Alfa Romeo's lineup, and may include a large sedan and a large SUV, a compact SUV, a large coupe, and a two-seat roadster. The top versions of these planned cars will use V6 gasoline engines, though smaller engines, including diesels, will also be available in various markets. The new vehicles will be rear-wheel drive, and are expected to be on sale starting in 2016. Alfa Romeo will make the use of the existing Jeep dealership network outside of North America and Europe, which total 1,700 stores. The pairing with Jeep is rooted in the belief that Jeep and Alfa Romeo appeal to buyers seeking alternatives to mainstream competitors.

Look for the Alfa Romeo 4C in the U.S. this June.

By Jay Ramey