Maserati Faces Financial Challenges with Recent Losses

Recently, Stellantis CEO Carlos Tavares identified inadequate marketing as the root cause of Maserati’s sales decline, which has dropped over 50% in the first half of 2024. During the Paris Motor Show this week, he elaborated on the struggles facing the Italian brand, acknowledging that it is currently “in the red,” indicating expenses are exceeding revenues.

Tavares emphasized that the issues Maserati faces are not product-related, stating, “We have no problem with the products.” Rather, the brand has been struggling due to a lack of “clear positioning.” He further explained that Maserati embodies more than just sports cars; it represents gran turismo, quality of life, ‘la dolce vita,’ and technological innovation.

At 66 years old, the Portuguese-born executive acknowledged that Maserati’s previous management team failed to communicate this vision effectively. With Davide Grasso out as CEO, Santo Ficili has taken the reins and is also overseeing Alfa Romeo, succeeding Jean-Philippe Imparato. Tavares noted that Ficili’s mission is to “change the mindset and the ideas” at Maserati.

The leadership at Maserati and Alfa Romeo has clarified that the two brands will not merge, as one is classified as “luxury” and the other as “premium.” However, they may consider collaboration if suitable opportunities arise. Alfa Romeo is also facing challenges, with U.S. sales declining by 10% through September, despite the launch of the Tonale crossover.

Even in the middle of these struggles, Stellantis remains committed to maintaining all 14 of its brands for the foreseeable future. The company is adhering to its 2021 plan to invest in each brand over the next decade, giving Maserati and Alfa Romeo until then to improve their situations.

In a related note, Stellantis’ former Chief Financial Officer, Natalie Knight, mentioned a few months ago that “there could be some point in the future when we look at what’s the best home for [Maserati].” Shortly thereafter, Stellantis issued a statement clarifying that Maserati is not for sale. Last week, it was announced that Natalie Knight would be leaving the company after just 18 months as CFO.