By Ben Geier/Fortune
June 24, 2015

Alfa Romeo, the Italian luxury automaker owned by Fiat Chrysler, today unveiled the new Alfa Romeo Giulia, a luxury sedan the company hopes will boost the brand’s popularity in the United States.

The revamp of Alfa Romeo is at the center of the carmaker’s plan to boost global vehicle sales by 60% to 7 million vehicles by 2018. The company had forecast Alfa Romeo’s sales would multiply more than fivefold to 400,000 vehicles in 2018 thanks to a 5 billion-euro investment to add eight new models and ramp up production.

Last year, the carmaker’s total sales were just 68,000, according to the Associated Press.

CEO Sergio Marchionne said that Fiat’s merger with Chrysler has given the company the financial tools needed to reestablish Alfa Romeo as a player in the U.S. market. The brand had its first appearance in the U.S. last year after a two-decade absence.

The new car is made of lightweight materials, and the top-end version of it will go from 0 to 60 mph in less than four seconds, according to the car news site Jalopnik.

—Reuters contributed to this report.

Contact us at editors@time.com.

SPONSORED FINANCIAL CONTENT

Read More From TIME

EDIT POST