Maserati is in serious trouble. Stellantis’ recent sales report reveals a staggering 58.3% decline, with Maserati delivering only 8,600 vehicles in the first nine months of 2024—down from around 20,600 during the same period last year. This alarming drop has cost Maserati CEO Davide Grasso his position, following Stellantis CEO Carlos Tavares’ sharp critique of the brand’s marketing and dealer discounting practices, which he says undermine its premium reputation. Competing in a segment dominated by BMW’s X3, Mercedes’ GLC Coupe, and Porsche’s Macan, Maserati’s current performance falls far below expectations, prompting Stellantis to initiate cost-cutting measures to stem the losses. Stellantis Turns to Cost-Cutting During its latest quarterly earnings call, Stellantis emphasized cost-cutting as central to Maserati’s turnaround, following a reported 60% drop in third-quarter sales year-over-year. While Maserati introduced new EV models, including electric SUVs and luxury coupes in 2024, these efforts couldn’t counterbalance a sharp decline in shipments. Adding to the challenges, Maserati’s product lineup is set to shrink further, with three models discontinued at the end of 2023, leaving the brand with fewer models to stabilize its market presence. At the Paris Motor Show, Top Gear asked Stellantis CEO Carlos Tavares about Maserati’s sales slump. Tavares pointed to branding and marketing as key issues: “Maserati is in the red. The reason is marketing. The Maserati brand is not clearly positioned, and the storytelling is not how it should be. The brand is not just about sports cars; it's about gran turismo, quality of life, dolce vita, and technology.” He added that while the products—including the electric Folgore lineup—are “stunning,” a new market approach is essential. Tavares explained bluntly that Maserati’s CEO Davide Grasso was replaced due to the inability to shift these perceptions: “After many months of trying, unfortunately the team could not succeed. We have to change the mindset and ideas.” New Leadership Aims to Realign Maserati and Alfa RomeoSanto Ficili has stepped into the role of CEO for both Maserati and Alfa Romeo, signaling Stellantis’ intent to bring the two brands into closer alignment. This new direction reflects a departure from Maserati’s previous partnership with Ferrari, which Stellantis CEO Carlos Tavares asserts led to unnecessarily high production costs and hindered Maserati’s ability to remain competitive. With Ficili at the helm of both marques, Stellantis plans to create operational synergies that lower costs and establish Maserati as a more distinct luxury brand. Tavares noted that while Maserati achieved solid profits last year, issues arose in the Chinese market where dealers insisted on discounting models, a move that Stellantis believed devalued the brand. “We said, ‘we are not here for you to destroy our brand,’” Tavares explained, adding that Stellantis prioritized brand integrity over volume, even if it meant losing sales in some regions. He shifted Maserati’s emphasis to markets that align with its premium pricing, part of a broader strategy to curb the long-standing cycle of discounting and inconsistent sales that Maserati has faced over the past five decades. Meanwhile, Tavares pointed out that Alfa Romeo and DS continue to perform well on a per-car profit basis, achieving profit margins double those of Stellantis’ mass-market brands despite smaller sales figures. Stellantis’ approach for these brands centers on preserving brand value over pushing higher volumes—a strategy that now applies to Maserati as well as Stellantis repositions its luxury portfolio. Source: Stellantis
