FCA Overhauls Maserati Management as Sales Slide

Maserati SpA needs more models and a new management style to reverse plummeting sales, says Automotive News Europe.

The Fiat Chrysler Automobiles luxury brand saw third-quarter earnings plummet 87% to a paltry €15 million ($17 million). Unit sales for the period dropped 19% to 8,800 cars, and the company’s profit margin shrank to 2.4% from 13.8% in last year’s third quarter.

FCA has scrapped a structure that grouped Alfa Romeo and Maserati management under one leader and treated the latter marque like a mass-market brand. Last month the group assigned Chief Technology Officer Harald Wester, who had led Maserati between 2008 and 2016, to take over as the brand’s chief operating officer.

But analysts tell ANE that Maserati also needs new products to bolster its sales volume. FCA had expected the Maserati sales would reach 75,000 units this year. That target was cut in June to 50,000 units, but sales were at only 26,400 units through August.

Under FCA’s five-year business plan through 2018, Maserati was to add three models by now, none of which has been introduced. Now the plan calls for three new models by 2022.

Manley tells analysts there will be further steps taken by year-end to revive Maserati by year-end, with more significant progress to come in the second half of 2019.