Stellantis Nixes $1.6 Billion Investment In Maserati
Maserati has never been a flagship brand for Stellantis, but it appears the parent company is questioning its storied Italian brand’s future. Stellantis’ CFO recently announced that it had scuttled a planned $1.59 billion investment in Maserati, which will lead to the cancellation of some new models.
CFO Doug Ostermann said, “Certainly, as we look at the pace of our activity in Maserati, we have now and have to recognize that the dynamics in that business, particularly in the Chinese market as kind of our expectations in terms of how quickly that luxury market would transition to electrification, those things have been adjusted and along with that we have adjusted the financials to reflect that outlook.”
That “adjustment” will likely come at the expense of electrified versions of the MC20 supercar, Levante SUV, and Quattroporte sedan. Bummer for Maserati fans, but the numbers paint a pretty dark picture for the brand.
Maserati sales dropped almost 60 percent in 2024, falling from more than 26,000 vehicles to just over 11,000. Former Stellantis CEO Carlos Tavares didn’t mince words when speaking about the company’s “lesser” brands, telling reporters that it would shut down any brand not making money.
Canceling those models leaves Stellantis in a weird position with Maserati. The brand currently sells a wider array of vehicles than Dodge and Chrysler put together but sells fewer units each year. Despite that, it’d be nice to see Maserati end up with a different owner rather than be shut down.
[Images: Maserati]
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Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.
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Maserati and Jaguar can't survive on fading memories of their 1960s glories much longer. Time for youth in Asia to act.
Jaguar is owned by Asians, "asian" youth isn't the issue.