All hopes for the new Alfa Romeo GTV and 8C sports cars have gone up in smoke, following the automaker’s third-quarter earnings report which reveal the cancellation of the pair. During a conference call with investors, Fiat Chrysler Automobile (FCA) boss Mike Manley said that Alfa’s portfolio plan has been “significantly scaled back, with a corresponding reduction in capital spending,” an Autocar report reveals.

During a financial results presentation to investors recently, the company revealed its newly-trimmed portfolio with four near-future models, those being replacements for the Giulia, Stelvio, Tonale, and a brand new B-segment SUV.

The highly anticipated return of the Gran Turismo Veloce (GTV) nameplate, as well as the 8C sports car, are nowhere to be seen during the presentation. This means the projects have either been shelved, or pushed back to prioritise cars that would sell in larger volumes.


The Alfa Romeo Tonale concept

The five-year plan was originally announced by the former and late FCA boss Serio Marchionne in 2018, but upon taking charge, Manley made the call to address losses posted by Alfa Romeo and FCA’s wider European operations.

Apparently, the move is also linked to the merger between FCA and the PSA Group, which would make it the fourth largest car-making group in the world. Current PSA Group CEO Carlos Tavaras, who is set to take the helm of the merged entity, is known for introducing wide-ranging cost-cutting measures to increase efficiency and profits. Anyone connecting any dots?