Alfa Romeo

Alfa Romeo is one of the most famous sports cars in the world, along with Porsche, Ferrari, Maserati, Corvette, Lamborghini, and Jaguar. After experiencing severe economic difficulties during the early 1990s, which resulted in the company's pullout from the U.S. market, Alfa Romeo and its parent company, Fiat, have performed a turnaround of the legendary carmaker--booking international success with the 156 model, introduced in 1998 to universal acclaim, followed by the 166 sedan. In 2000 the company prepared for more success with the October launch of the 147. Alfa Romeo's renewed success has not been enough for Fiat, however, which saw losses totaling more than US$100 million in 1999. In March 2000, Fiat announced a share-swap partnership agreement with General Motors Corporation (GM), giving the U.S. carmaker 20 percent of Fiat and making Italy's dominant automaker the largest single GM shareholder, with 5.1 percent of the Detroit company. The GM-Fiat agreement has already produced a bonus for Alfa Romeo--following the agreement, Fiat announced its intention to reintroduce Alfa Romeo to the U.S. market with a new Spider design.