Well... chances are yours has a smart alternator not classic fixed one.

How to tell if it’s a smart alternator
Look at the connector on the alternator:
Smart (ECU-controlled / LIN type) has main thick B+ cable + a small plug with 1 thin wire (sometimes 2).
That thin wire is LIN / control signal from ECU.
No traditional “charge warning lamp” wire.
Older / regular alternator has B+ cable and separate excitation wire (D+).
Works more independently. Fixed regulation (~14V).
Quick visual rule:
1 small thin wire in a plug → smart alternator
multiple wires / classic D+ → older type.
On most 2011 500s: you’ll see the single thin control wire → smart system.

What voltage should you see?
This is where people get confused sometimes.

On a smart alternator voltage is NOT fixed.
You can see:
12.4 – 12.8 V
→ light load / battery charged / ECU reducing drag
13.2 – 13.8 V
→ normal cruising
14.2 – 14.8 V
→ charging / recovery / high demand.
All of these can be completely normal

On a regular alternator (for comparison)
Usually steady: 13.8 – 14.5 V.

️ What matters more than the number
Instead of “exact voltage”, look for:
✔ Does it increase with load?
Turn on: headlights, blower, heated rear window.
Voltage should rise if system is working.
✔ Does it recover after start?
After cranking should go higher (~14V+) briefly.

Warning signs:
Stays at ~12V all the time → no charging
Drops under load and doesn’t recover
Erratic spikes (wiring / control issue).