Yahoo Finance Stellantis Says It 'Has No Intention of Selling' Maserati Despite Exec Remarks
Stellantis is shutting down chatter that there's a chance it might sell off Maserati and has "[reaffirmed] commitment to its entire portfolio" in a statement issued to Road & Track.
Over the past week, quotes from Stellantis CEO Carlos Tavares and brand CFO Natalie Knight have suggested that the brand's leadership was considering axing or selling off some of the company's 14 brands. The most intense speculation came from Knight's comments on Maserati, which included a mention that "there could be some point in the future when [Stellantis] look at what’s the best home for [Maserati]."
In a statement shared with Road & Track on Wednesday, the parent company of Maserati and 13 other brands stated a clear intent to neither sell Maserati nor merge the brand "with other Italian luxury groups." The statement continues by stating an "unwavering commitment" to the brand's future and notes its full portfolio of both gas-powered and electric-powered products. Finally, the brand "reaffirms its commitment" to all 14 brands while noting that "market volatility and temporary situations may cause fluctuations." The full statement can be read below.
"Stellantis has no intention of selling the Trident brand, just as there is no intention of aggregating Maserati within other Italian luxury groups.
Stellantis restates its unwavering commitment to Maserati’s bright future as the unique luxury brand within the 14 Stellantis brands.
Maserati is in a transition period toward electrification with its Folgore BEV program: today the Trident offers GranTurismo and GranCabrio in ICE and BEV versions, Grecale in ICE, mild-hybrid and BEV versions, while we confirm that successors of the Quattroporte and Levante are also in preparation.
Maserati's mission is to write the future of mobility through the best performance in the luxury segment, focusing on the desires of its customers. To achieve its goals, the brand precisely targets a highly specific audience.
Maserati is therefore setting up a series of initiatives to expand its presence in the global market, to strengthen its brand image and to underline the uniqueness of its products. Maserati is facing a major challenge and must remain focused on its objectives in the coming months.
Stellantis reaffirms its commitment to its entire portfolio of 14 iconic brands and recalls that each of them has a 10-year horizon to build a profitable and sustainable business, while recognizing that market volatility and temporary situations may cause fluctuations."
The statement comes after a rough opening half of 2024 for Maserati, a brand that sold only 6500 cars in that span. That number is down from 15300 last year, despite the rollout of a new generation of GranTurismo and the new Grecale compact crossover. According to analysis from Automotive News Europe, that decrease led to an $88.6 million operating loss for the brand. The struggles are alarming, but the latest statement from Stellantis suggests that the group believes its continued rollout of new ICE and electric models will help Maserati break out of its tailspin.
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