Maserati’s sales have taken a significant hit, with a substantial decline from approximately 20,600 vehicles sold in the first nine months of 2023 to just around 8,600 in the latest official data from Stellantis for this year. This shocking 58.3% drop ultimately led to the ousting of former CEO Davide Grasso.
Now, Stellantis boss Carlos Tavares is pointing fingers at Maserati’s marketing strategy and dealers, who have been adamant about discounting models, tarnishing the brand’s premium appeal.
This is not the first time Tavares has called out Maserati’s marketing woes. Back in September, he made similar comments, although at that time, Grasso’s dismissal was not yet on the table. Now, the company is attempting to “right-size costs” to stem the bleeding.
Maserati Sales Down 60%: Here’s Why the Trident Brand is Struggling
Cost-cutting has become the lynchpin in Stellantis’ Maserati recovery plan, emphasized in the company’s recent quarterly earnings call. During the call, Stellantis reported a significant 60% drop in Maserati sales compared to Q3 2023.
“Maserati’s vehicle shipments remain significantly below prior-year levels, even as 2024 has seen some important new product launches, particularly EV variants of its luxury SUV and coupe,” the company said in a statement. “Maserati will be working with a significantly reduced portfolio in the coming period after three models ended production in late 2023, and as such, the main focus will be on rightsizing costs to bring the company back to profitability.”
According to Top Gear, Tavares still believes that marketing is the key issue. “Maserati is losing money. The cause is marketing,” he said. “The Maserati brand is not clearly positioned, and the storytelling is not what it should be. The brand is not only about sports cars but also about gran turismo, about quality of life, dolce vita, and technology.”
Tavares also took aim at Chinese dealers who want to sell cars at heavily discounted prices: “We’ve said, ‘we’re not here for you to destroy our brand.’ But if your marketing is not good and your dealers think they need to sell at a lower price, then you have a problem.”
The Race to Cut Costs: Volkswagen Considers Shutting Down Factories
The Volkswagen brand is exploring the option of shutting down factories in Germany as a cost-saving measure. This potential move comes as a response to the increasing competition from Chinese electric car manufacturers entering the European market.
