AUTONEWS

Stellantis puts Maserati's future in check

After decades of vegetating in the luxury vehicle market, once integrated into the Stellantis group, Maserati took advantage of the arrival of electric vehicles to wake up from the lethargy in which it had been dragging itself, complementing the range of models with gasoline engines with new electric proposals. And these, with powers exceeding 760 hp, allowed the Italian brand with a past full of success and history to outperform the competition. But suddenly, Stellantis seems to have decided to reverse course.

As soon as it joined the Stellantis group in 2021, the future began to look brighter for this manufacturer founded in 1914 which, in addition to its numerous successes in competition, with drivers such as Juan Manuel Fangio, began competing in Formula E to acquire knowledge about the technology that powers battery-powered vehicles. 

The range began to be reinforced with combustion models, such as the two-seater MC20 sports coupe, the Grecale SUV and the update of the four-seater GranTurismo and GranCabrio coupes. But Maserati's biggest commercial argument consisted of the launch of the Folgore versions of these last three models, 100% electric and with powers between 557 hp and 761 hp, to complement the offer.

With sales expected to rise in 2021, 2022 and 2023, Stellantis has announced a €1.5 billion investment in Maserati to renew the range and launch new models. However, suddenly, he reversed course and cancelled the bet on the brand. Stellantis CFO Doug Ostermann confirmed the decision not to invest in the brand, as well as the fact that this decision has the consequence of canceling a new model launch program.

The reversal was motivated by the Italian brand's results in 2024, a year in which only 11,300 Maseratis were sold, around half of the 26,600 sold in 2023, which resulted in losses of close to 260 million euros. The union has already expressed its discontent regarding the decision that puts the future of the brand at risk, but with Carlos Tavares leaving and the new CEO of Stellantis not yet having been announced, everything indicates that the decision will not be reversed so quickly — if that is indeed the group's decision. More news on March 11th.

Maserati's problems began when Stellantis released its first-half results for this year. Sales there ended the period 50% below the figures recorded in the same period in 2023, for example, causing the brand to go into the red. Carlos Tavares (head of Stellantis at the time) stated that the problems were “obvious” and that they were not related to the automaker's products, but that the difficulties were in the Chinese and North American markets, albeit for different reasons.

According to the CEO, the problem in China was that “problems arose with dealers, who wanted to offer very large discounts, as always happens, and we had to put a stop to the problem, which affected volumes.” However, in the US, the brand's largest market, Tavares states that “the marketing plan failed completely,” hurting sales. The executive approved a new one in the second quarter of this year, even though it was risky.

Maserati has seen a €1.5bn investment abandoned by its parent company, Stellantis. This puts the future of the all-electric Maserati MC20, along with the electric successors to the Quattroporte and Levante, in doubt. 

Documents reveal that this will lead to the "cancellation of certain projects before launch" Stellantis CFO Doug Ostermann confirmed the information to Autocar: "We have to recognise the dynamics of this business, particularly in the Chinese market, and our expectations in terms of how quickly that luxury market would transition to electrification" Maserati's sales slump has led to a loss of €260m. However, with the problems, the Italian union has already asked Stellantis for clarity on the future of the brand

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