Stellantis has no intention of selling its luxury vehicle business Maserati or aggregating the unit with other Italian luxury groups, the automaker has said.
“Stellantis restates unwavering commitment to Maserati’s bright future as the unique luxury brand of the 14 Stellantis brands,” the carmaker said in a statement cited by Reuters, while also reaffirming commitment to its entire portfolio.
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CEO Carlos Tavares had warned last week if the company’s loss-making brands “don’t make money, we’ll shut them down”.
Stellantis not afraid to axe failing brands
The comments came after Stellantis delivered worse than expected results for the first half.
It does not release figures for individual brands, except for Maserati, which reported an adjusted operating loss of EUR82m for the first half of the year. In the first half of 2024, Maserati sales were just 6,500 units versus 15,300 in the same period of 2023.
Some analysts had previously noted Maserati could possibly be a target for a sale by Stellantis while other brands such as Lancia or DS might be at risk of being scrapped, given their marginal contribution to the group’s overall sales, the news agency added.
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