Maybe Stellantis is the problem, not Maserati

► What’s Maserati up to?
► Is 2025 going to be its year?
► Or is Stellantis the real problem?

Bob Drake competed in only one Grand Prix, the US GP of 1960, and finished an undistinguished 13th. His Maserati 250F, the most beautiful and one of the most successful F1 cars of the ’50s, was outclassed by the new-age machinery.

Stirling Moss’s winning Lotus 18-Climax was small, mid-engined and showcased the future. Drake’s 250F, on the other hand, was a glorious relic of the past. It finished seven laps behind Moss’s Lotus.

It would be the 250F’s last-ever GP. Drake’s sole claim to racing fame is that he was the last man to race in a world championship Grand Prix in Maserati’s most famous racing car.

There is a parallel between the 250F in 1960 and Maserati today. A company whose cars once oozed desirability is now a serial underperformer. A performance brand famous for its tuneful and characterful engines, and some wonderful old GTs, must now navigate an uncertain new age. And just as the 250F finished its career in America’s Riverside raceway in the autumn of 1960, so there are doubts about Maserati’s future today.

Only a few months ago, Carlos Tavares, then boss of Maserati’s owner Stellantis, threatened to shut down unprofitable brands, a clear reference to Maserati.

Last year sales collapsed to 11,300, from 26,600 the year before. In the UK, they were down 47 per cent. In Italy, by 41 per cent. Production fell 64 per cent. Even new models, like the Grecale SUV, suffered big falls.

In total, Maserati sold fewer cars than Ferrari, and were not far ahead of Lamborghini – both of which operate at a much higher and more profitable plane. Instead of investing more in its sole luxury brand to boost product, Stellantis has written off £1.2 billion of investment in Maserati, leaving some future models in doubt.

Under achievement at Maserati is not new. Fifty years ago almost exactly, Maserati was put into liquidation. Every decade since it’s regularly missed sales targets, as various owners – including Ferrari – grappled with familiar and recurring problems. Investment was delayed, models aged, and so the circle of strife continued.

There have been some gloriously good cars, but many of those have soldiered on well past retirement age. Platform sharing to go downmarket hasn’t helped. The Grecale SUV uses Alfa Stelvio underpinnings. It is an appealing sports luxury SUV, but in many ways more like a Qashqai than a Quattroporte – and the electric Folgore version costs almost £100,000.

Just over a decade ago, then-owner Fiat said Maserati would sell 75,000 cars a year. In fact, in 2025 it will be lucky to sell one-seventh of that.

Like Jaguar, Alfa Romeo, Lotus and Aston Martin, Maserati is a wonderful old European brand that has struggled for decades. Stellantis has threatened to transform Maserati but, so far, there is no Jaguar-style rivoluzione.

The management, though, has changed. A new CEO, Santo Ficili, was installed last October, after Tavares sacked the previous Maserati boss. A new head for Maserati Northern Europe, which includes the UK, was installed at the same time.

Mariangela Del Vecchio, ex BMW, will tell you that in the past year three key models were phased out – Quattroporte, Levante and Ghibli. Little wonder sales were affected.

On the other hand, new Folgore EV models were introduced, which should have boosted demand. There were technical issues that affected production and, as with most new EVs, sales have disappointed. ‘New entry-level versions of the Grecale [the 300] and GranTurismo and GranCabrio [the 490 versions] are now available, as well as the new GT2 Stradale and a full range of Folgore models,’ says Del Vecchio.

She promises that 2025 will be better. An enhanced customisation ‘atelier’ programme should also earn good money: it’s a major source of Ferrari’s impressive profits.

A new Quattroporte – which also replaces the Ghibli – is due in 2028 and a new Levante in 2027. The current plan is for Maserati to be EV-only by 2030, but that is surely now in doubt, given the shaky EV market, Donald Trump’s pro-oil blusterings and slow initial sales of Folgore variants.

‘We are committed to electro mobility but we are customer driven and will produce what our customers want,’ says Del Vecchio. The electric MC20 Folgore has been canned.

The GranCabrio and GranTurismo Folgore models are technically ambitious EVs: bespoke 800-volt architectures, dedicated three-motor powertrains, low centre of gravities and scorching performance elevate them from any other platform-shared Stellantis cars. The GranCabrio Folgore is the world’s only GT convertible EV.

I drove both electric GranCabrio and GranTurismo soon after talking to Del Vecchio. They are exquisitely handsome cars and fearsomely fast, the most powerful Maseratis ever – and with more torque than the original Bugatti Veyron.

Jaguar insist its new-age EVs will sell because of the sheer desirability of their design. If so, then the stand-out handsome GranCabrio and GranTurismo should also succeed. (Although they’re expensive: the GranTurismo Folgore starts at just under £180,000). And you’d expect a new Quattroporte to look wonderful, given past efforts.

Del Vecchio insists that EVs are an opportunity for Maserati. ‘Electric power suits luxury and grand touring very well.’ The idea of Stellantis selling Maserati is also quickly dismissed. When Tavares left last December, the second Stellantis brand that chairman John Elkann visited was Maserati, she says.

Elkann is also executive chairman of Ferrari, another brand with a distinguished racing past – but also a highly successful present and, it seems, a rosy future. Some of that Prancing Horse magic is clearly needed at its Modenese neighbour. Intriguingly, at least one industry pundit has even called on Ferrari to regain control of its former cross-town rival.

Gavin is a former editor of CAR magazine – having led the title twice over the years. He remains a key voice on the team and writes a monthly column in the printed mag.

By Gavin Green

Contributor-in-chief, former editor, anti-weight campaigner, voice of experience