Stellantis has revealed its financial data for the third quarter of 2024, which is far from positive. Along with this, Maserati‘s sales figures were also disclosed, showing that the brand delivered approximately 8,600 vehicles from January to September 2024. This represents a 58.3% decrease compared to the same period in 2023, when sold vehicles amounted to 20,600. These disappointing results cost CEO Davide Grasso his position, who has been replaced by Santo Ficili, who also leads the Alfa Romeo brand. Carlos Tavares, Stellantis’ CEO, continues to blame marketing for this decline.
Maserati sales drop 60% in 2024
According to Tavares, marketing would be Maserati’s main problem. Additionally, blame is also placed on dealers who continue to discount models (to convince customers to buy), weakening the brand’s image. In short, according to Tavares, Maserati should be a sort of Ferrari.
Due to this collapse in 2024, Maserati’s balance sheet is in the red. According to the Portuguese manager, who will leave the automotive group’s leadership when his contract ends in early 2026, the Maserati brand should express sportiness, as well as elegance, Italian lifestyle, sophistication, and technology, aspects that the marketing department currently fails to communicate.
Consequently, sales continue to perform very poorly, and dealers only worsen the situation by focusing on discounts, effectively damaging the brand’s image. The new CEO will therefore need to find a way to resolve this issue, although it’s not the only headache to think about. The third quarter of 2024 has been tragic for Stellantis, with sales dropping by 20% and net revenue falling by 27%. In short, it’s a year to forget for the automotive group.