Automotive group Stellantis is taking steps to regrow weak margins and high inventory levels following worse-than-expected results for the first half of 2024, and could drop underperforming brands from its portfolio, reported Reuters.
“If they don’t make money, we’ll shut them down. We cannot afford to have brands that do not make money,” said Stellantis CEO Carlos Tavares of the group, which has held 14 brands in its portfolio, or 15 with the recent majority acquisition of Chinese brand Leapmotor.
Reuters cited a reported 82 million euro (RM410.7 million) adjusted operating loss for Maserati in the 1H 2024, compared to a profit of 121 million euros (RM606 million) in 2023, reported Autoblog, and noted analysts as saying that Maserati could be targeted for offloading from Stellantis.
Stellantis CFO Natalie Knight told Automotive News Europe that the drop in Maserati’s sales performance can be partly attributed to the discontinuation of the Ghibli and Quattrroporte in 2023, and the end of production of the Levante earlier this year.
Knight told Automotive News Europe that there may be “some point in the future” when Stellantis would reconsider “what’s the best home” for the Italian luxury marque. Meanwhile other brands in the group, Lancia and DS might also be at risk of being scrapped for their marginal contribution to the group’s overall sales volume.
Current models in the Maserati line-up are comprised of the MC20, MC20 Cielo, GranTurismo, GranCabrio and the Grecale, and only the latter, being an SUV, is expected to contribute significant volume.
Both the Levante and Quattroporte are set to be replaced by all-electric successors, reports Autoblog, with its large SUV and flagship sedan said to debut in 2027 and 2028, respectively. However, it cites insiders as saying the next Quattroporte could arrive first, ahead of the Levante.
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