Maserati can breathe easy as Stellantis says it will hold on to the brand for the foreseeable future, even with the Italian manufacturer posting millions in revenue losses already this year. Stellantis recently reported a troubling drop in net income through the first half of 2024, prompting CEO Carlos Tavares to issue a warning just days ago for all of its brands: “If they don’t make money, we’ll shut them down,” he told Reuters. A list of automotive outlets read that as writing on the wall for Maserati, and Stellantis’ CFO reportedly said the move could be considered later on, but apparently that isn’t the case.
Update July 31, 2024, 1:20 p.m. ET: Shortly after publication, Stellantis and Maserati issued a joint statement to The Drive that reads as follows: “Stellantis has no intention of selling the Trident brand, just as there is no intention of aggregating Maserati within other Italian luxury groups. Stellantis restates its unwavering commitment to Maserati’s bright future as the unique luxury brand within the 14 Stellantis brands… To achieve its goals, the brand precisely targets a highly specific audience. Maserati is therefore setting up a series of initiatives to expand its presence in the global market, to strengthen its brand image and to underline the uniqueness of its products. Maserati is facing a major challenge and must remain focused on its objectives in the coming months.”
Tavares went on to say that Stellantis “cannot afford to have brands that do not make money.” That doesn’t seem to apply to Maserati, which reported an adjusted operating loss of roughly $88.8 million from January through June. Still, a company spokesperson told Reuters after its initial story, “Stellantis restates unwavering commitment to Maserati’s bright future as the unique luxury brand of the 14 Stellantis brands.”
Maserati is uniquely positioned within Stellantis. It currently competes in multiple key segments with the Grecale and Levante in the luxury crossover/SUV category, the Ghibli and Quattroporte premium sedans, GranCabrio and GranTurismo two-doors, and the MC20 supercar. It’s more diverse than many folks give it credit for, the automotive media included.
The Trident marque is well on its way to mass electrification, too. It announced back in April that by 2028, it will only sell EVs—a bold move that leapfrogs other posh brands. If the GranCabrio Folgore EV is anything to go off of, Maserati should be fine as it left a mighty impression on us during the first drive event.
“This feels like a true Maserati,” wrote The Drive‘s Deputy Editor Jerry Perez. “Forget that it’s electric—everything about its steering, suspension, brakes, and overall performance screamed, ‘We’ve been making Italian sports cars for over 100 years. What did you expect, dummy?’”
The news of Maserati’s monetary miss came as somewhat of a surprise, although it was not as shocking as its parent company’s decline in net income by 48%, reducing its adjusted earnings to €5.6 billion ($6.1 billion), per Reuters. It’s unclear what steps Stellantis will take to raise its margins and move a glut of inventory from brands in the U.S., such as Dodge, Jeep, and Ram, which had formerly given Stellantis a good reputation for cost efficiency.
In the meantime, congratulations to Maserati. You live to fight another fiscal quarter under the Stellantis umbrella.
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