Is it getting close to time to set up an “is Maserati screwed” tracking website, one you can check every day to make sure that the Stellantis luxury performance car brand is still in business and not closed or about to be sold? We joke, but the brand has been bleeding cash for ages, and the speculation refuses to abate with concerns about the brand’s long-term value.
Maserati
Originally a manufacturer of spark plugs during the First World War, Maserati is a legacy Italian automaker famed for its sports cars and luxury GTs. The brand also has a prominent history in motorsport. Maserati has long been associated with Ferrari as its junior, largely due to its running of Ferrari-built engines and both brands being owned by FCA for a long period of time. However, Maserati now manufactures its own powertrains and stands as a solo brand within the larger Stellantis conglomerate.
- Founded
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1 December, 1914
- Founder
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Alfieri Maserati
- Headquarters
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Modena, Italy
- Owned By
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Stellantis
- Current CEO
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Davide Grasso
It’s no wonder that some at the company feel a need to respond, given the struggles that the automaker – known for its stylish cars including the Quattroporte – is facing. Its ill-fated transition to electrification, lack of sales, and now the razor-wire baseball bat to the face of US new car import tariffs all have it reeling like we did after the season 7 premiere of The Walking Dead.
However, for now, Maserati is safe. That’s according to the person who is simultaneously both the most and least likely to know: CEO Santo Ficili.
CEO Confirms That Stellantis Will Keep Shoveling Cash
“Stellantis confirms its commitment towards Italy, its workers and all its brands, including Maserati,” the CEO, said in a letter released by the Uilm Union, reports Reuters.
The letter was a reply to another public letter from union head Rocco Palombella. The representative of Maserati’s labor force wanted some reassurances.
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In the letter, Ficili acknowledged that tariffs and market problems were huge uncertainties for the brand – uncertainties that piled on top of the already expensive and frustrating move to electrification. However, Maserati is still committed to the US. “The United States remains a strategic market for Maserati,” Ficili said.
No Word On Maserati’s Plans To Recover
Fear for the fate of Maserati grew last week on the news that the company had hired downsizing consultancy McKinsey for advice. It pushed speculation that the company, which lost nearly $300 million on sales of just 11,300 vehicles, was in trouble. It was also reported that Stellantis was in talks to possibly sell Maserati and Alfa Romeo.
Electric replacements for the Quattroporte sedan and Levante SUV may now be in the bin. Parent Stellantis has written down a $1.57B investment in those models. CFO Doug Ostermann said earlier this year that “we have to recognize the dynamics in that business, particularly in the Chinese market, and our expectations in terms of how quickly that luxury market would transition to electrification.”
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While the old CEO of Stellantis blamed bad marketing for the woes of Maserati, he’s no longer with the automaker. Right now, three of Maserati’s gas-powered models have been axed from the US, leaving the automaker with little to market. The brand’s electric replacements were set for 2027 at the earliest, but now it’s not clear what will be in showrooms for the next few years.
Source: Reuters
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