Stellantis Mulls Maserati’s Future Amidst Sharp Sales Decline

Stellantis is re-evaluating the future of its luxury brand Maserati in light of significant declines in performance and profitability. The automaker recently reported a startling 50% drop in Maserati’s global sales for the first half of 2024, falling to 6,500 units from 15,300 during the same period last year. This decline has been accompanied by a substantial financial loss, with Maserati posting an adjusted operating loss of €82 million ($87 million) compared to a profit of €121 million ($130 million) in the first half of 2023.

Stellantis Chief Financial Officer Natalie Knight addressed the downturn, noting, “The first half of the year has been disappointing, largely due to Maserati discontinuing several models.” Indeed, Maserati has phased out the Ghibli midsize sedan, Quattroporte large sedan, and Levante large SUV, which has contributed to a sharp decline in sales. Additionally, the Grecale midsize SUV, the brand’s only high-volume model, saw a 42% reduction in European sales, totaling just 2,108 units.

Maserati’s current lineup includes the Grecale, GranTurismo coupe, GranCabrio Cielo convertible, and the MC20 supercar. However, Knight emphasized that the introduction of the Folgore BEV variant of the MC20 next year may have limited impact on overall sales. “We anticipate that the Folgore BEV variant will not significantly affect Maserati’s sales figures in the short term,” Knight remarked.

The future of Maserati under Stellantis is under close scrutiny. Knight hinted at potential strategic changes, stating, “While our focus is currently on improving Maserati’s performance, there could be a future point when we examine what’s the best home for the brand.” This reflects ongoing discussions about whether Maserati might eventually be sold or spun off.

Stellantis CEO Carlos Tavares has also weighed in on the matter, emphasizing the importance of profitability. “If they don’t make money, we’ll shut them down,” Tavares said, underlining the group’s commitment to financial viability. Maserati remains the only Stellantis brand with its own profit and loss statement, making its financial health a critical focus.

Looking forward, Maserati is expected to take several years to revamp its lineup. The full-electric successor to the Levante is now scheduled for 2027, and the next-generation Quattroporte will arrive in 2028, both delayed from their original timelines. Maserati is considering postponing the Levante successor until after the Quattroporte, extending the delay to over four years from the initial plan.

Despite stable sales figures of around 26,000 units annually in 2022 and 2023, Maserati has struggled with profitability since late last year. The margin was €20 million ($22 million), or 1.9%, in 2023, compared to a much healthier 9.2% margin in the first half of 2023. Knight had previously projected a “sustainable” 15% margin by next year, with a long-term goal of reaching 20%.

Source: Automotive News Europe