Financial Performance and Profitability
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Global Revenue (H1 2025): €368 million (~$398 million USD), down 42% from €631 million in H1 2024
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Net Loss (H1 2025): €139 million (~$150 million USD), resulting in a margin of -37%
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Sales Volume (H1 2025): 4,328 units, down 32% YoY (from 6,324 units in H1 2024 and 9,194 in H1 2023 for top 10 countries)
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Profitability Trends: Losses have accelerated since 2023, with 2024’s annual loss at €260 million following near-break-even 2023 financials
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Key Drivers: Halved customer base since 2023, poor strategic decisions, and model discontinuations have dramatically reduced revenue and profitability
Vehicle Sales and Production (Europe-Focused)
| Country | YoY Change (%) | Notes |
|---|---|---|
| United States | -37% | Drastic drop; no longer lead market |
| Italy | -30% | Home market erosions |
| United Kingdom | -38% | Significant contraction |
| Switzerland | -50% | Volume collapse |
| Japan | -36% | APAC weakness |
| Australia | -25% | Steady decline |
| Turkey | -8% | Minor erosion |
| Germany | +12% | Limited growth in low volumes |
| France | +7% | Marginal increase (48 units) |
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European sales accounted for the majority of Maserati’s remaining registrations, but no market offset global declines.
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Middle East and Asia-Pacific also down except for isolated minor growth.
Regional and Global Sales Performance
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Sales fell across most major European markets; gains in Germany (+12%) and France (+7%) came from small starting volumes.
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The U.S. and APAC contractions confirm Maserati’s struggle to maintain global relevance.
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Worldwide revenue for 2025 is forecast at ~$333 million USD, continuing a declining trend.
Profitability and Cost Factors
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Losses due to poor sales mix, discontinued models (Ghibli, Quattroporte, Levante), and delayed price adjustments on new Granturismo/Grancabrio.
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Folgore EVs failed to achieve commercial success; Grecale lacks competitive hybrid options.
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Ultra-low production margin (-37%) underscores inefficiency and collapsing scale.
Debt and Liquidity
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Maserati operates within Stellantis’ group financing; no standalone debt disclosed.
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Capital and R&D investment significantly reduced in 2025, including the cancellation of €1.5 billion in planned spending.
Best Selling Models: Overview and Profit/Loss Status
| Model | Status | Notes |
|---|---|---|
| Granturismo | Limited | Highly praised but overpriced |
| Grancabrio | Limited | Low production, niche appeal |
| Grecale | Underperforming | Range gaps, lack of strong hybrid system |
| Folgore (EV) | Failing | Minimal market traction across regions |
| Special Editions (GT2, MCXtrema) | Niche | Unimpactful to overall sales |
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None of the current range offsets the absence of discontinued high-volume lines.
Weakest Performers and Segment Underperformance
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Removal of volume models collapsed total sales.
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Folgore underperformance compounded the decline.
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Only top-tier sports cars retain brand recognition but remain niche sellers.
Key Financial and Operational Metrics
| Metric | Value (H1 2025) | Notes |
|---|---|---|
| Revenue | €368M / ~$398M USD | -42% YoY; -72% since 2023 |
| Net Loss | €139M / ~$150M USD | -37% margin |
| Units Sold | 4,328 | -32% YoY |
| Europe Sales Growth | Germany +12%, France +7% | Both low-volume markets |
| Capital Investment | €1.5B pulled | Cuts limit near-term recovery |
Maserati – 3‑Year Financial & Volume Comparison
| Year / Period | Revenue (€ Million) | Revenue (USD Million)* | Units Sold | YoY Unit Change (%) | Net Profit / (Loss) (€M) | Profit Margin (%) |
|---|---|---|---|---|---|---|
| 2023 (Full Year) | ~€1,310 | ~$1,420 | ~25,000 | – | ~€5 | ~0% (near break‑even) |
| 2024 (Full Year) | ~€920 | ~$1,000 | ~16,100 | -36% | (€260) | -28% |
| 2025 H1 | €368 | ~$398 | 4,328 | -32% (H1 basis) | (€139) | -37% |
(*USD conversions at average annual FX rate per year)
Key Insights from the Table
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Revenue Collapse: Down nearly 72% from 2023 to 2025 (H1 annualised), tied directly to discontinued high‑volume models and failed EV launches.
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Volume Shrinkage: Customer base halved since 2023; current sales are less than one‑fifth of 2023 levels annually.
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Margin Deterioration: Shift from break‑even in 2023 to deeply negative in 2024–2025, with H1 2025 at -37%, signalling severe structural unprofitability.
Industry Outlook and Strategic Focus
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Maserati faces urgent need for a viable electrified/hybrid lineup.
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Stellantis reviewing Maserati’s future as losses deepen with no clear recovery pipeline.
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Without pricing reform and relevant products, volume erosion will continue.
Key Takeaways
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Maserati’s 2025 collapse is both financial and strategic in nature.
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European growth in low-volume markets can’t offset global contraction.
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Severe losses, curtailed investment, and weak product traction raise questions over long-term viability.
