It’s been a long time since anyone at AutoInfluence wrote about Maserati. That, in and of itself, is telling. What was long considered the pinnacle of Italian luxury automobiles and one of the most frequently mentioned car brands in rap music, according to Car and Driver, has become an afterthought. In six of the last seven years, Maserati has sold less than 1,000 vehicles on U.S. soil, and results on its European home turf aren’t much better. After a brief rebound in 2023, worldwide sales for 2024 were down 42% through Q3, which led to CEO Davide Grasso being ousted in October.
For years, rumors have swirled that Maserati could be on the chopping block, whether from its parent company (currently Stellantis) selling or killing the historic brand. However, there have recently been several moves to reposition the brand and restore its prominence. Will these moves pay off in the long run? Before I give my answer, I want to look at why Maserati is in its present state and what it’s doing to rehabilitate its sales figures and reputation.
How Maserati Fell Off
It would be foolish to try to summarize Maserati’s full history here. Suffice it to say that since its founding in 1914, Maserati has been a paragon in the luxury car industry and was once a leading motorsports team, too. Their past is filled with turbulence, though, which undoubtedly has influenced the present situation.
For starters, Maserati nearly ended in the mid-1970s when its then-parent company Citroën went belly-up and was bought out by Peugeot. Fortunately, GEPI and Alejandro de Tomaso, a former racer and the man responsible for the Pantera, threw them a lifeline. The Fiat Group bought 49% of Maserati in 1989 and the remainder in 1993. Following this, Maserati went under the Ferrari banner, of which Fiat had a controlling interest, in 1997, then was paired with Alfa Romeo in 2005.
Two subsequent mergers led to Maserati becoming part of Stellantis in 2021. This constant shuffling, and now possibly getting lost in the shuffle of a 14-brand automotive portfolio (which, ironically, also includes Citroën), is likely part of why Maserati has struggled to regain its foothold. Other reasons Stellantis executives and industry experts have mentioned for its current state include outdated vehicles and a public perception hampered by bad brand positioning and marketing.
The bottom line is that apart from occasional surges, sales remain low even by premium luxury standards. Dealers have recently resorted to massive discounts to try and get rid of the vehicles. For example, one outlet reported in April 2024 that a California dealership had slashed the asking price of a new 2022 Maserati Levante Modena from $95,795 to $64,998, more than 32% after it sat unsold for 18 months. Stellantis has been less than pleased about this practice, saying it further tarnishes the brand’s image.
Paring Down the Lineup and Adding EVs
Despite the setbacks, Stellantis and Maserati executives are trying to salvage the brand via a three-pronged approach. Part one has been streamlining Maserati offerings, specifically by phasing out all vehicles with V8 internal combustion engines and starting the transition to EVs.
To this end, in April 2023, Maserati began U.K. production on the second-generation GranTurismo coupe and GranCabrio convertible, which were previously available from 2007 to 2019. Three models of these grand tourers are available. The 483-hp Modean and 542-hp Trofeo have twin-turbo V6 gasoline engines, while the 751-hp Folgore is Maserati’s first battery-electric steed. To make room for them, Maserati put the V8 Quattroporte saloon, Ghibli sedan, and Levante crossover out to pasture in 2024. The Grecale compact SUV and MC20 supercar survived the chopping block.
Maserati started making the GranTurismo and GranCabrio for the U.S. market in early 2024 to try and build on promising 2023 sales. Those plans have hit a snag, though. In late November 2024, Stellantis temporarily halted production on both vehicles due to a lack of demand, especially for the EV variants. Stellantis recently said it would extend the shutdown until at least February 2025. While not solely a Maserati issue, as lower-than-expected EV sales affect the entire industry, it’s surely not what they hoped for.
A Return to Racing
The second area Maserati is focusing on is a return to motorsports prominence. Much of Maserati’s early fame stemmed from its racing success. Wilber Shaw captured the 1939 and 1940 Indy 500s in a Maserati 8CTF, and Juan-Manuel Fangio won the 1954 and 1957 Formula One World Championships in a Maserati 250F. The automaker was also a big winner in GT and sports car classes. However, Maserati withdrew its factory teams in the aftermath of a tragic accident at the 1957 Mille Miglia, which killed Ferrari driver Alfonso de Portaga and 11 others. Private racing teams continued to run Maserati cars and engines with varying success, but they did so without the company’s support.
In 2022, though, Maserati Corse announced it would field a two-car team in ABB FIA Formula E the following year, making them the first luxury Italian nameplate in the series. Through two seasons of Formula E competition, results are promising, with two race wins and six podium finishes. This commitment to the race track was affirmed at the 2023 24 Hours of Spa when the company debuted the Maserati GT2, which modified the MC20 for the Fanatec GT2 European Series. Reigning Pro-Am champion team LP Racing soon confirmed they were switching to the Maserati GT2, with TFT Racing and Van Der Horts Motorsports also jumping on board. LP Racing picked up where they left off, giving Maserati the 2024 GT2 European Series title, with TFT Racing coming in third overall.
New Leadership
Finally, new people are overseeing Maserati operations. After Grasso was reassigned as Stellantis’s “Chief Heritage Officer,” Santo Ficili replaced him as CEO. Ficili has spent his entire career in the performance and luxury automotive sectors and most recently oversaw Stellantis operations in the Italian market. (He was simultaneously put in charge of Alfa Romeo, making him responsible for two fabled brands.) In addition, Andrea Soriani is now in charge of Maserati North America operations, while Nicole Longhihi will oversee North American marketing efforts.
So far, Ficili is taking the long view. He recently said that he doesn’t expect Maserati to be profitable in 2025 and acknowledged the need to rebuild trust with dealers and customers, which will take time. Ficili also mentioned Maserati could potentially relaunch the GranCabrio with a new marketing campaign and added that cost-cutting both internally and on consumer price tags would at least be considered.
Not only does Maserati have new people in charge, but Stellantis soon will, too. Former CEO Carlo Tavares unexpectedly resigned on December 1, 2024, effective immediately. Reports say the departure was due to constant clashes with the Stellantis board of directors about the company’s direction and who or what was responsible for recent struggles. Stellantis is expected to announce a new CEO by mid-2025, and I’ll be interested to see what their position is on the future of Maserati.
Looking Into the Maserati Crystal Ball
Maserati isn’t the only legacy automaker to have hit troubled waters in the 21st century. Lotus, Saab, Chrysler, Jaguar, Mitsubishi, and Fisker are some of the legendary names forced to restructure or shutter altogether because they couldn’t keep up. Stellantis is also having trouble with falling sales, leadership upheaval, and a litany of lawsuits against various suppliers.
Nevertheless, in September 2024, Stellantis said it planned to keep its promise from 2021 of not divesting or folding any vehicle brands until 2031, defying previous statements by Tavares. Barring a sudden reversal, Maserati will at least get a fair shot to turn things around. If Maserati can position itself properly and build on its early racing success, such as potentially bringing the GT2 to the U.S. IMSA circuit, I think it can re-establish a lasting and profitable niche.
