Maserati can rest a little easier, as Stellantis has confirmed that it will retain the luxury brand for the foreseeable future, despite reporting significant revenue losses this year. Stellantis recently unveiled a steep decline in net income for the first half of 2024, leading CEO Carlos Tavares to caution all its brands: "If they don’t make money, we’ll shut them down," as stated in an interview with Reuters. Concerns arose among automotive analysts about Maserati’s future, especially after Stellantis’ CFO hinted that selling the brand might be considered down the line, but that is not currently on the table.
Update: July 31, 2024, 1:20 p.m. ET: Following the initial reports, Stellantis and Maserati released a joint statement to The Drive, asserting: "Stellantis has no intention of selling the Trident brand nor does it plan to merge Maserati with other Italian luxury groups. Stellantis reaffirms its steadfast commitment to Maserati’s bright future as a unique luxury brand among the 14 Stellantis offerings… To achieve its aspirations, Maserati strategically targets a specific clientele. The brand is therefore implementing various initiatives to enhance its global presence, reinforce its brand image, and emphasize the uniqueness of its products. Maserati faces a significant challenge and must stay focused on its objectives in the upcoming months."
Tavares emphasized that Stellantis “cannot afford to support brands that do not generate profit.” However, this sentiment does not seem to extend to Maserati, which reported an adjusted operating loss of around $88.8 million from January to June. A spokesperson for the company reassured Reuters after the initial reporting, stating, “Stellantis reaffirms its unwavering commitment to Maserati’s bright future as the unique luxury brand within its portfolio.”
Maserati holds a distinct place within Stellantis, competing in several important segments with models like the Grecale and Levante in the luxury SUV category, the Ghibli and Quattroporte premium sedans, as well as the GranCabrio and GranTurismo coupes, along with the MC20 supercar. The brand’s diversity may be underestimated, even by automotive media.
Moreover, Maserati is progressing toward full electrification, having announced plans to exclusively sell electric vehicles by 2028—a bold strategy that positions it ahead of other luxury brands. The GranCabrio Folgore EV has already made a strong impression during its first driving event, suggesting a bright future for the brand.
"This feels like a true Maserati," noted 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?’”
The revelation of Maserati’s financial struggles came as a surprise, though it was overshadowed by Stellantis’ own alarming 48% drop in net income, which brought adjusted earnings down to €5.6 billion ($6.1 billion), according to Reuters. The path forward for Stellantis in improving its profit margins and reducing an excess of inventory in brands like Dodge, Jeep, and Ram, which once boosted the company’s reputation for cost efficiency, remains uncertain.
In the meantime, congratulations to Maserati; it will continue to operate under the Stellantis umbrella for at least another fiscal quarter.
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