Confronted by numerous challenges—including inadequate marketing and excessive discounting—Maserati must persevere in its uphill struggle if it wants to survive. Once recognized as an emblem of Italian elegance and performance, Maserati now contends with doubts regarding its viability in an intensely competitive and electrifying automotive landscape. Is the brand accelerating fast enough to remain relevant? LUXUO previously explored Jaguar’s contentious rebranding strategies, and it appears Maserati might soon follow suit, risking its illustrious heritage with uncertain choices.
Maserati GT2 Stradale. Image: Maserati.
The year 2024 marks Maserati’s celebration of its 110th anniversary since its founding in 1914. Over a century after its establishment, the luxury automaker is encountering significant hurdles. Following Stellantis’s half-yearly report, Maserati’s sales figures appeared dismal. As of June 2024, the number of vehicles sold fell from 15,300 to merely 6,500. What went wrong? Carlos Tavares attributes this alarming drop in sales not to issues with the product or pricing strategy, but to inadequate marketing efforts.
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In October 2024, Stellantis appointed Santo Ficili as Maserati’s new CEO, replacing Davide Grasso to ignite change. Ficili, who has headed Stellantis’s Italian market, is concurrently overseeing the Alfa Romeo brand. Grasso was reassigned to the newly created role of Chief Heritage Officer at Stellantis. In this position, he is “responsible for curating the history and legacy of Stellantis’s 14 brands,” involving collaboration with archives and museums.
The resignation of Stellantis’s CEO, Carlos Tavares, in early December 2024, sparked widespread discussion.
Maserati Grecale SUV. Image: Maserati.
Vehicles across Stellantis’s 14 brands—including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram Trucks, and Vauxhall—are designed, manufactured, and distributed. At the time of the merger, Stellantis employed nearly 300,000 individuals, operating sales in over 130 nations and maintaining production facilities in 30 countries.
The reputation and future of the renowned Trident brand are at the heart of ongoing discussions. Alongside recent leadership changes, Maserati, Stellantis NV’s luxury division, is grappling with falling sales and inadequate marketing.
Carlos Tavares hinted at Maserati’s uncertain prospects by stating, “We’ll shut them down if they don’t make money. We cannot have unprofitable brands. It’s that straightforward.” He emphasized these comments pertained to all brands under the vast corporate umbrella, not solely Maserati.
Despite Stellantis’s assurance in a press statement that all 14 brands will remain operational, reaffirming its 2021 commitment to invest in all brand lines for ten years, Maserati faces significant challenges. It must continue a multi-year effort of expanding and refreshing its model range to boost sales. The MC20 Folgore is set to launch in 2025 after this year’s debut of the GranCabrio Folgore, which is entirely electric. Additionally, a zero-emission version of the Quattroporte will be released in 2028, while a larger electric SUV is planned for 2027. In December 2023, Maserati ceased production of its gasoline-powered Ghibli, Levante, and Quattroporte models to cut costs and eliminate underperforming lines.
Maserati GranCarbio. Image: Maserati.
Data indicate that Maserati’s sales during the third quarter of 2023 plummeted by 60 percent compared to annual totals, decreasing more than 58 percent overall. Tavares linked Maserati’s decline to aggressive dealer discounting along with poor brand positioning. Despite focusing on cost-cutting strategies and streamlining its model lineup to enhance profitability and luxury appeal, navigating the ongoing transition toward electrification in the automotive industry poses a significant challenge. In stark contrast, BYD has achieved remarkable performance on the global stage, with China emerging as the leading EV market.
According to data released on December 9, 2024, the rapidly growing automaker increased its market share in China once again. The statistics indicate BYD’s portion of the world’s largest vehicle market rose from 12.5 to 17 percent in November. Furthermore, BYD is on track to surpass both Ford and Honda, targeting an annual production goal of 4 million vehicles.
Maserati MC20 Cielo. Image: Maserati.
During the initial nine months of 2023, Maserati sold roughly 20,600 cars. Stellantis’s latest official figures show that this has drastically decreased to about 8,600 this year. This 58.3 percent decline puts the legendary Italian automaker’s future in jeopardy.
In a recent interview with Top Gear, Tavares noted that Maserati’s challenges stem from insufficient marketing. “Maserati is in the red. The core issue is marketing,” he stated. The Maserati brand needs a clearer positioning, and its narrative needs improvement. It’s not merely about sports cars; it embodies gran turismo, quality of life, dolce vita, and innovation.”
Demand for Maserati’s luxury offerings has significantly diminished in China. The brand must juggle multiple priorities to maintain its trajectory, including expanding its model range, developing more EV-focused vehicles, and refining its marketing strategy.
The Trident in Trouble: Can Maserati Stage a Comeback?
Maserati’s downfall can be attributed to a combination of factors, including poor marketing, misguided brand positioning, and an overreliance on outdated models that do not align with the market’s increasing demand for electrification. Issues with leadership stability have further obstructed the company’s path, with ongoing executive changes preventing a cohesive long-term vision. As competitors like BYD excel in the EV market and Stellantis confronts broader challenges, Maserati’s future depends on innovative thinking, captivating storytelling, and recalibrated product offerings. Absent these necessary adjustments, the iconic Trident risks fading into history in a swiftly transforming automotive industry.
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