- Maserati sales halved in first half of 2024, resulting in €82 million loss.
- Stellantis confirms commitment to Maserati despite poor financial performance.
- The Italian luxury brand needs to revitalize its lineup to secure long-term future.
Maserati did not have a strong start to 2024 and despite Stellantis boss Carlos Tavares threatening to kill off brands from Stellantis’ portfolio that don’t make money, the Italian luxury marque isn’t at risk of getting the axe.
During the January to June period, Maserati’s sales plummeted by more than 50% compared to the same period last year, to just 6,500 units. It also reported an adjusted operating loss of €82 million ($88 million). That’s bad for any brand, particularly one with the heritage of Maserati, and means it is lagging well beyond its competitors.
Read: Which Brands Should Stellantis Put To Rest?
Nevertheless, Stellantis stated on July 30 that it remains committed to keeping Maserati within its portfolio, Auto News reports.
“Stellantis restates unwavering commitment to Maserati’s bright future as the unique luxury brand of the 14 Stellantis brands,” it said.
In late July, Tavares told reporters on an earnings call that under-performing brands would be killed. “If they don’t make money, we will shut them down,” he said. “We cannot afford to have brands that do not make money.”
Maserati’s recent financial performance, together with the recent statements from Tavares, led some to speculate that Stellantis could target a sale of the Maserati brand. However, this does not appear to be the case.
The decline in Maserati’s sales comes as somewhat of a surprise given that the current GranTurismo is a significant set-up from the model it replaces. Additionally, the compact Grecale SUV was expected to be a strong, volume-seller for the brand, and help it achieve annual sales of 100,000. However, the Italian brand has been slow to replace the old Quattroporte and Ghibli sedans and needs to do something to reinvigorate interest in its range.
Fortunately, with the backing of Stellantis, Maserati’s short-term future at least appears to be secured. How long its future will remain secure is unclear.
