On July 31st, Fiat Chrysler Automobiles (FCA) released their second-quarter (Q2) 2019 earnings statement. In that report, FCA also covered Maserati’s performance for the Q2 of 2019, something we left out of our article as we thought they deserved their own write-up.
The Q2 of 2019 earnings were disappointing for Maserati, with shipments down 46% and net revenues down 40%. The Maserati brand had a net revenue of 343 Million Euros for the quarter with an adjusted EBIT (Earnings Before Taxes and Interest) of negative 119 Million Euros and an adjusted EBIT margin of negative 34.7%.
FCA says that these results are primarily due to a large inventory stock reduction as they prepare to roll out ten new or refreshed models over the next four years, coupled with lower sales. According to the above slide, Maserati will debut a refreshed Levante, Ghibli, and Quattroporte next year, along with an all-new sports car.
Going by what was shown in the 5-year plan last June, this sports car could be the long-awaited Maserati Alfieri. Reportedly, the Alfieri will be available as a plug-in hybrid with an electronic all-wheel-drive system or in a “Maserati blue” fully electric model with all-wheel drive, a 0-60 time of around 2-seconds and a top speed of 300+ km/h. Alfieri models will be built on a modular spaceframe and feature active aerodynamics.
The 2021 model year will see an all-new D segment (mid-sized) utility vehicle, an all-new Maserati GranTurismo (which was previously thought to be replaced by the Alfieri), along with a convertible version of the sports car debuting in 2020. 2022 will see a convertible version of the new GranTurismo, along with an all-new Quattroporte, while the all-new Levante will debut a year later, resulting in a fully overhauled Maserati lineup over the next four model years.
Maserati will also charge ahead (pun intended) with full battery-electric or plug-in hybrid options being available in 100% of the lineup by the end of 2023.
In a press release for FCAs Q2 2019 earnings, they said: “We will continue to focus on the underperforming areas of our business, including Maserati, where we’ve reinforced our leadership team.” Keep in mind that Maserati has grown its worldwide sales 700% since 2011 going from 6k units a year to 50k units a year in 2017.
I, for one, am hopeful that Maserati can return to profitability over the next few years as they make beautiful vehicles and have a lot of exciting things in the pipeline, and at the end of the day, a return to profitability is good for FCA as a whole.
