Alexandre
On July 25, 2024, Stellantis unveiled its financial results to investors, an opportunity for the group to bare its true colours, detailing both good and bad results. Among these figures, those of the Maserati brand are unfortunately characterized by a tendency to regress, reaching for the first time financially in the red.
Stellantis attributed this disappointing performance to several factors during his presentation. The declining Grecale sales and an incomplete product range have weighed heavily on results. Even so, brand revenues for the first half of 2024 came to 631 million euros, down sharply from 1.31 billion euros in the first half of 2023 and 941 million euros in the first half of 2022. Profits followed the same trend, falling from 121 million euros in 2023 to just 20 million euros in 2024, compared with 62 million euros in 2022.
| Revenue | Benefits | Margin | |
|---|---|---|---|
| H1 2024 | 631 000 000 € | 20 000 000 € | 1,9 % |
| H1 2023 | 1 310 000 000 € | 121 000 000 € | 9,2 % |
| H1 2022 | 941 000 000 € | 62 000 000 € | 6,6 % |
It is important to note that these profits become negative when we take into account the 349 million euros of exceptional expenses, including 25 million euros for the reduction of human resources. Thus, the profit for the first half of 2024 turns into a loss of -82 million euros.
To improve profitability, Stellantis has introduced actions to reduce expenditure. The sale of Maserati's Grugliasco plant last year, the 173 redundancies at the Modena plantand the closure of the Maserati Innovation Lab in Modena are striking examples.
Maserati's profit margin fell drastically, from 9.2 % in the first half of 2023 to 1.9 % in 2024, a significant drop on the 6.6 % recorded in 2022. Sales halved.
These worrying results raise many questions about Maserati's future. Between our previous articles where we wondered if Stellantis knew what she was doing, the new 2028 product plans, the major management changess, the doubts about technical managementand the questioning the 100 % electricthe brand seems to be sailing in troubled waters.
A final non-reassuring fact, Maserati completely overshadowed at Stellantis Investor Day 2024This absence speaks volumes about the brand's current position within the Group.
The Folgore offensive makes no noise, and Maserati's financial results, year after year, are worrying. A spin-off is under consideration, but on one conditiona rume about a takeover by Ferrari was also mentioned... The brand needs to right its course to avoid sinking any further. The challenge is immense, but Maserati's history shows that it has always been able to bounce back in the face of adversity.
Fast-track electrification, ridiculous range...
Another big mess!
Why not buy Ferrari out, but for what purpose?
Unless Ferrari wants to turn it into a luxury GT brand with a Ferrari engine.
In fact, just as it was with the Ghibli, Quattroporte and Levante.
It seems that the solution is already underway by joining three engines pure, Tech, 1,2 Maserati will be the only manufacturer to have a block 9cylinders 3.6l!!!!
It was a monumental mistake not to put into production the Maserati Alfieri, which was unanimously acclaimed at the time of its presentation. FCA's calamitous management of Maserati and of the group in general will forever remain a mystery!
Yes to the Ferrari takeover!
But is Maserati still salvageable outside the Stellantis fold!???🤔
Maserati's product plan is ridiculous. The desire for volume, at any price, with vehicles that until recently were still diesel, is an obvious example. The image has been sabotaged by this insipid engine. The all-electric concept, which we once wanted, was just as devastating. Last but not least, the increasingly exorbitant prices don't encourage buyers to rush out. Maserati is not Ferrari...
When you see how VW relaunched LAMBORGHINI with immense success, and BENTLEY 20 years ago, only a prestigious German brand (Audi, Porsche...) could help MASERATI offer new products, and customer confidence would also return.
Unfortunately, I've come to the obvious conclusion...
Audi Prestigious, that would surprise me and when you see the beating it's taking to the point of virtually eliminating all sedans, SUVs less and less in the picture, their electrics making a huge flop and Porsche making a flop... there's nothing prestigious about it and Bentley last year alone plunged more than 11% and is in no way taking the path to success because their SUV is a flop error!!!!
What's more, the only ones capable of reviving Maserati are Ferrari... only.
When you look at the state of VAG's coffers, which are in the red and they had to sell Bugatti because it was a flop, and Seat, which will be in the doldrums in 2030...
True, but VW still has the Golf and Polo, and the compact segment has been abandoned by other brands.
VW IDs are a huge flop.
Audi is prestige for those who show off, fake luxury.
Porsche is in the same predicament as prestigious brands such as Maserati and Aston Martin, with sales set to collapse in 2024. Today, the historic customers of these brands are clamoring for specific combustion engines, and those who have switched to electric cars see no point in spending twice as much when they can get remarkable - I didn't say similar - performance from Tesla for 60,000 euros. The only solution in the long term, with the explosion of penalties linked to CAFE standards - we need to be under 81g/km by 2025, which consumers are not necessarily aware of - is to invest in reducing the weight of constant-density batteries and of models in general, simulate gear changes as Kia does, and rediscover the pleasure of driving, for example by not mistaking between front-wheel drive and rear-wheel drive for an Alfa Romeo.