Fiat-Chrysler CEO, Sergio Marchionne, is about to announce (yet another) new plan designed to save the ailing Alfa Romeo brand. The Italian manufacturer will now become a standalone brand, with its own headquarters and management responsible for independent financial reports. Alfa will become its own legal entity, allowing Fiat to "make this new relaunch attempt into a credible business proposition," sources told Automotive News.

Fiat will continue to build Alfas solely in Italy, offering a lineup comprised exclusively of rear-wheel drive cars (barring any future all-wheel drive SUVs or crossovers). Interestingly, the sources also promised that future high-end Alfa Romeo models would be fitted with Ferrari-developed engines, pointing at the company's intention to focus on premium and performance vehicles. With Marchionne's previous goal of 500,000 annual sales for Alfa unlikely to be achieved this year (the brand sold 101,000 units in 2013), we hope this plan will help get Alfa back on track ahead of its planned US relaunch this June.