► Maserati post 30% drop in profit
► Levante SUV could boost sales in 2016
► CEO Marchionne confident in recovery
Maserati’s parent company Fiat Chrysler today announced that its sports car maker’s earnings fell by 30% in the second quarter of 2015.
Chief exec Sergio Marchionne is already planning the fightback however; he is confident profits will recover following the launch of the new Levante SUV in 2016.
Maserati earnings drop by 30%
Although Maserati sales figures in Europe rose in Q2, it wasn’t enough to offset the 37% drop in shipments to China. As a result, global sales of Maseratis dropped 13% from April to June 2015.
It’s a similar pattern in the western hemisphere, where US sales were considerably lower than that of previous years. Overall, the slowdown accounted for a 30% drop in earnings for Maserati.
Also contributing to the shortfall was the lower price of the entry-level Ghibli. Buyers are lapping up the cheaper saloon, while sales of the Quattroporte are falling, the company revealed.
The saving grace: 2016 Maserati Levante
CEO Marchionne is resting the future of Maserati on its new SUV, the Levante. Expected to debut at the Detroit motor show in 2016, it will join the swelling ranks of more sporting and luxury SUVs, including the upcoming Jaguar F-Pace and Bentley Bentayga.
Although Marchionne is confident about the turnaround, some analysts fear Maserati’s renaissance may have run out of steam. Let’s hope the Levante can pull Maserati out of trouble.
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