April 19, 2024

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[THE INVESTOR] Alfa Romeo’s much-anticipated Korean debut will be delayed to next year as Fiat Chrysler Automobiles is still gauging the marketability of its sports sedan brand here, multiple sources said on Dec. 14.

Expectations have been growing recently about the Korean launch of the 105-year-old Italian carmaker following its reentry into the US market in 2014. The carmaker has sold cars in selective markets such as Europe and Japan. 

Alfa Romeo Giulia

FCA Chairman Sergio Marchionne also hinted during the Geneva Motor Show last year that Alfa Romeo’s first mass-market sedan Giulia could hit the Korean market in 2016.

But the planned launch has been being delayed thus far.

“We need to consider diverse factors, including new investments, before launching a new brand,” an FCA Korea official told The Investor, saying the Korean unit is continuing market research.

“For now, our focus is more on elevating the market share of Chrysler and Fiat cars here.”

In the first 11 months of this year, Chrysler and Fiat sold 4,246 and 588 vehicles, respectively, in Korea. They make up a tiny 2.85 percent of the nation’s burgeoning imported car market.

Sources predict Alfa Romeo could enter the Korean market next year considering the Giulia’s US debut was also delayed to early this month. The car was first unveiled in June 2015.

“FCA is seeking to restore profits by beefing up sales of more the lucrative Alfa Romeo cars globally,” said a local official of a foreign car brand on condition of anonymity.

“The luxury sedan market is crowded with German brands. Like Jaguar has seen a success as a niche brand, Alfa Romeo will appeal with its unique Italian style.”

 

Alfa Romeo Giulia

The Giulia is Alfa Romeo’s first mass-market offering that goes on sale in the US this month.

At the top of the lineup is the US$72,000 Quadrifoglio that competes with BMW M3. The 505-horsepower sedan accelerates from zero to 100 km/h in 3.8 seconds.

Two other lower-priced versions include the standard US$38,990 model with a 2-liter engine with 280 horsepower and the Ti, with upgraded interior features, at US$40,990.

All the specifications are based on the US models. Their Korean pricing and other options will be decided later.

By Lee Ji-yoon (jylee@heraldcorp.com)