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FCA: No Profits for Maserati Until at Least 2020
Officials at Fiat Chrysler Automobiles NV don’t expect the company’s Maserati luxury car unit will post a profit until at least 2020.
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Officials at Fiat Chrysler Automobiles NV don’t expect the company’s Maserati luxury car unit will post a profit until at least 2020.
The unit reported a pretax loss of €119 million in April-June as dealers reduced their inventories of unsold cars by 3,000 units. Maserati also cut factory shipments by nearly half as retail sales fell 17% to 7,200 cars.
The decline follows a 32% drop in sales in the first quarter of 2019. Analysts blame an aging lineup of models. Maserati hopes to revive sales with 10 updated or all-new models, including a second crossover model, in 2020-2023.
Skeptical analysts consider the current sales decline a reality check for overly ambitious targets that once expected deliveries to soar to 100,000 by 2022. The brand’s best sales year was in 2017, when volume reached nearly 49,000 units. Sales last year slid to about 35,000 cars.
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