Fans of Italian styling are anxiously awaiting Fiat and Alfa Romeo's full scale return to the U.S. now that the alliance deal between the Italian auto giant and Chrysler has been well and truly signed off but sadly, the wait may have to last a few more years still. According to Fiat Group CEO Sergio Marchionne, Alfa Romeo is unlikely to return to the U.S. until the end of 2012 and even then models like the MiTo and new Giulietta may be off the cards.

We can at least dream of what could have been and salivate over news that the Alfa Romeo Giulietta may even be offered with a 235 horsepower engine and compete with the likes of the Volkswagen Golf GTI and Ford Focus RS.

According to a new report, Alfa Romeo will pop in its 1.75-liter turbocharged mill from the MiTo GTA into the Giulietta’s engine bay. There’s no mention of whether the car will be badged a GTA or as a Cloverleaf but with 235 horsepower on tap we’re sure most fans won’t care whatever it’s called. Other performance modifications to go along with the new engine will be Alfa Romeo’s Q2 front-wheel drive electronic differential, as well as active dampers and even a dual clutch gearbox.

Expect to see the hotted-up Alfa Romeo Giulietta make its debut in Europe in the coming months.

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