While one the one end, the Italian auto major, FIAT SpA is planning to shed the Alfa Romeo brand from its portfolio, the latest buzz in the global automobile circuit supports the fact that the German carmaker, Volkswagen AG is gearing to up to pick up the luxury brand.

It is to be mentioned here that the German auto industry newspaper automobilwoche recently reported that Volkswagen is eying an acquisition of the Alfa Romeo brand from FIAT.

There is no denying to the fact that Alfa Romeo is a globally recognised brand with sporty genes and a great tradition.

However, the FIAT spokes person was quoted saying that as it has already been said by (Chief Executive Sergio) Marchionne, there is no plan to sell the Alfa Romeo brand and Volkswagen also declined to comment on the issue.

It may be noted here that Alfa is repeatedly brought into connection with Volkswagen, which has built up an immense cash cushion of 17.5 billion euros ($22.3 billion) to finance plans to overtake Toyota Motor Co in size by 2018 in the global market.