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Maserati or will be acquired by Chery? Maserati's sales fell by 50% year-on-year in the first half of 2024
Maserati's battle of fate: the road to recovery from "micro-business vehicles" to China's high-end market
The automotive industry has always been seen as a stage full of fierce competition, and major car companies are trying their best to seize market share. However, even those top luxury brands have not been without their challenges. Maserati is a good example of this. This high-end car, which is as famous as Porsche, has suffered an unprecedented decline in the Chinese market in recent years, with global sales falling by 50% in the first half of 2024 and a loss of up to 82 million euros. What caused the fall of the famous Italy car company, and where will it go?
Maserati stuck in the trough
According to the filing, Maserati officially entered the Chinese market in 2004 and once occupied a certain share of the ultra-luxury car market with a series of popular models such as the Ghibli, Levante and Quattroporte. From 2016 to 2017, its sales in China exceeded the peaks of 12,000 and 15,000 units.
However, since 2018, Maserati sales have been declining. In 2019, it fell to a low of 2,600 units, and since then it has been sluggish. In the first half of 2024, its global sales plummeted by 50%, resulting in heavy losses.
What is it that has reduced this once glorious high-end car company to this place? The document pointed out that the biggest reason is that it was "damaged" by a group of so-called "micro-business groups".
At first, these micro-business groups only bought one or two Maserati to take pictures and post them to Moments. But then the situation became more and more serious, and even the sales link cooperated with their performance, and there was even a marketing method of 200 yuan a photo.
This practice has undoubtedly greatly damaged the brand image of Maserati. Seeing this scene, the "real rich" simply couldn't accept that this once high-end luxury brand would be so "low". This reverse "endorsement" became the main reason for the decline in Maserati's sales.
Not only that, the document also mentions that the decline in Maserati's sales in China has also indirectly led to the news of its possible acquisition. According to Stellantis CEO Tang Weishi, Maserati is likely to be cut if it is not able to make money as part of this group.
Interestingly, in this context, there was news that Chery may acquire Maserati. But at present, Chery officials have not confirmed the matter, saying that "there is no relevant news".
The outlook for the future is worrying
Maserati's battle of fate is far from over. According to the analysis of documents, the current difficulties faced by the Italy car company are not limited to the Chinese market.
Globally, some of the top luxury car brands, such as Porsche, are also not doing well in the first half of 2024. In China, Porsche's sales fell by 33 percent year-on-year, similar to Maserati's.
Experts point out that the root cause behind this trend lies in the fact that domestic consumers are gradually changing their car buying habits. Large-displacement, less practical luxury models are gradually being replaced by more practical and cost-effective models. Brands such as Maserati and Porsche may face even more difficult prospects if they do not adjust their strategic direction in time.
In addition, the broader economic environment also poses a significant challenge to these high-end car companies. In the face of inflationary pressures and weak consumption, buyer demand for large-displacement models is cooling. This has undoubtedly exacerbated the sales woes of brands such as Maserati.
So, where does Maserati go from here? The document does not give a clear answer, but it raises some questions worth pondering: How to reinvent the brand? How can we better meet consumer needs? How to respond to changes in the economic environment? These are all subjects that Maserati must take seriously.
Only by finding a suitable way out, this once-glorious high-end car company can regain its glory in the Chinese market. Its fate in the future is not only related to Maserati itself, but also reflects the development trend of the entire high-end car market.
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