Alfa Metais produced five Puma models. The AM-1 and AM-2 were air-cooled VW based coupes and convertibles similiar to the GTI and GTC. The AM-3 and AM-4 were water-cooled VW based coupes and convertibles powered by a VW Gol (VW Fox in the U.S.) engine mated to a Brazilian VW Kombi diesel transaxle. The AMV was an updated version of the GM based GTB. Alfa Metais tried to take the cars up-market with plush interiors and other luxury features. The factory continued to race in order to promote its image as a performance sports car. Despite these efforts, sales were relatively low, with AMV production accounting for a higher proportion of the total than the GTB did in earlier times. Alfa Metais also produced Puma trucks, production of which did not end until 1998.

The person most closely associated with this period of Puma history is Nivio de Lima, the managing director of Alfa Metais. De Lima, a fan of Puma cars, decided to make a serious attempt to revive and continue the marque. Alfa Metais assumed production from Araucaria Veiculos in 1987. The air-cooled AM-1 and AM-2 were quickly introduced from existing molds and tools. The GM based AMV was introduced in 1988. The water-cooled AM-3 and AM-4 followed in 1989 with revised styling and water-cooled engines. The Alfa Metais cars exhibited a high standard of finish, but they were not able to successfully compete with the more modern sports cars becoming available in the Brazil. Unfortunately, Nivio De Lima was killed in an automobile accident. Any future for Puma car production died with him.

Write Up by Bill Jackameit

The AM1 and AM2 were air cooled
	The AM3 and AM4 were water cooled