Alfa Romeo to Stop Selling Cars in U.S.

From Reuters

After years of losses, Italian sports car maker Alfa Romeo said Tuesday that it will stop selling cars in the United States and Canada this summer.

The company, known for its flashy, high-performance automobiles, said it has suffered significant losses and could not justify the large investment that would be needed to meet tough new U.S. safety and emissions standards.

Alfa Romeo, a subsidiary of Italian auto maker Fiat, sold just 565 cars in the U.S. last year, fewer than half the 1,325 it sold in 1993.