Maserati says it has no interest in cutting the prices of its models and engaging in any kind of price war. Instead, it is more interested in building vehicles that customers are happy to pay the price for, the carmaker’s CEO said.
While speaking during the company’s most recent earnings report, chief executive Davide Grasso told media members that the Italian car manufacturer sees no need to cut prices. This comes despite some companies following the lead of Tesla in discounting their vehicles in the midst of easing supply chain tensions. By comparison, Grasso said that Maserati is scrutinizing its dealers to ensure that they don’t discount their vehicles.
“We would be completely strategically off-balance if we [cut prices],” Grasso told Auto News. “Pricing is a very critical element in general, but particularly for a luxury brand. That’s why it’s important that we’re not led by volumes. Our goal is to make the best cars we can make for somebody to appreciate it and pay the price.”
Maserati enjoyed a strong start to 2022, selling a total of 15,300 vehicles thanks primarily to the launch of the new Grecale crossover and the latest-generation GranTurismo. It also posted a €121 million ($133 million) adjusted operating profit through the first six months of the year, roughly double H1 2022. The margin on its operating profit also rose from 6.6% to 9.2%.
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Earlier this year, Grasso revealed that Maserati is hoping to increase its margin on operating profit to 15% in the next 12 months and 20% by the end of the decade. If Maserati is able to hit its targets, Grasso says that parent company Stellantis could start to evaluate a potential spin-off and public listing of the Italian car manufacturer. This won’t happen soon, Grasso cautioned.
“It’s something that is not on the horizon for us, we are busy enough with managing the brand and the complexity of the business in these days,” Grasso said during the firm’s earnings report.
