Stellantis Stands by Maserati Despite Deepening Losses
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Stellantis reaffirmed its support for Maserati even as the legendary Italian brand's sales slipped and losses accumulated. Maserati's global vehicle deliveries fell by a whopping 57% in 2024, selling a mere 11,300 units. That precipitous fall resulted in an operating loss of €260 million (about $295.8 million), which cast doubts on the brand's future within Stellantis' umbrella.
U.S. Tariffs Put Pressure
The timing is terrible. New U.S. tariffs on imported vehicles are set to hurt non-U.S.-assembled cars even more—a headache for Maserati, which assembles its full range of models in Italy. The U.S. is a significant market for the brand, so these regulatory hurdles are particularly frustrating.
To gauge the implications and refine its approach, Stellantis has engaged global consultant McKinsey to study the tariff scenario and offer guidance on Maserati and Alfa Romeo's long-term trajectory.
Leadership Reinforces Commitment
Despite the dismal numbers, Stellantis is publicly optimistic. Santo Ficili, Stellantis Italy's CEO, addressed directly concerns in a recent communique:
"Stellantis reinforces its commitment to Italy, Italians, and to all its brands, including Maserati," he added. He continued to explain the U.S. as a "strategic market" and implied Stellantis won't be stopping Maserati's come back to the other side of the planet.
Not a Product Issue—But a Brand One
In the opinion of the previous CEO Carlos Tavares, the issue with Maserati is not the cars but the manner in which they've been positioned and branded. He stressed that the product quality is not the problem, suggesting errors in brand communication and customer interaction.
Modena's Customization Drive Looking to change direction, Maserati is betting on customer personalization. It recently put €11 million into a new customizing factory in its legendary Modena headquarters.
The brand is attempting to increase the share of customized vehicles from 12% to 20%, capitalizing on the luxury business's growing appetite for customized goods. The move is part of a broader plan to make the brand more appealing and more differentiated from competitors.
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