Alfa Romeo isn’t set to see profit this year despite an upturn in fortunes, Fiat Chrysler Automobiles chief executive officer Sergio Marchionne said during a fourth-quarter earnings call for the company, according to Automotive News Europe. “The losses are shrinking, but we need more volumes,” Marchionne said, stating that the rebuilding of the Italian marque is still a work in progress.

The marque’s plan for revival comprised of the roll-out of eight models originally by 2018, but that was deemed unfeasible at the end of 2015 and has since been revised to mid-2020. The 400,000-unit sales target has also been dropped. No revised target has been released since, and Marchionne also did not reveal a timeframe for a return to profitability.

A return to profit this year was indeed expected by Marchionne and chief financial officer Richard Palmer, following the launches of the Giulia and the marque’s first SUV, the Stelvio. The brand did record an increase in global sales, however, growing to 118,000 units sold last year from 71,700 in 2016, estimated by market research firm JATO Dynamics.

Global production figures grew to 150,722 units in 2017 from 93,117 units in 2016, according to the Fim-Cisl union. As planned, more new models are in the works, including replacements for the Giuletta and the 4C. A full-sized SUV has also been confirmed, possibly with seven seats, and will take aim at the likes of the Audi Q7, BMW X5 and the Volvo XC90.

Meanwhile, the long-rumoured Formula 1 endeavour has also been confirmed for a 2018 entry, having signed a multi-year technical and commercial partnership agreement with Sauber and a deal to receive 2018 Ferrari engines. Might the premier single-seater campaign work in its favour, or could it be a stretch too far for the marque’s current financial standing? Time will tell.

GALLERY: Alfa Romeo Stelvio Quadrifoglio