Maserati Needs Second SUV Model to Reach Profit Target, CEO SaysBy and
Maserati is taking a play from rival Porsche’s book, planning a second, smaller SUV as it looks to grow its global vehicle sales to as many as 80,000 a year.
The smaller SUV will share underpinnings with fellow Fiat Chrysler Automobiles NV brand Alfa Romeo, which just launched the Stelvio SUV, though the powertrain will likely be unique, Chief Executive Officer Sergio Marchionne said during an earnings call Tuesday. Maserati launched its first sport utility vehicle last year, the Levante.
Marchionne has said Maserati can eventually generate 1 billion euros in earnings before interest and taxes on 70,000 to 80,000 vehicle sales. “We should be able to get there” with a second SUV, he said Tuesday, adding that it will probably happen by 2020. Globally, Maserati sold about 36,000 vehicles through the first three quarters this year, up more than 50 percent from the year-earlier period.
Volkswagen AG’s Porsche has already been building out its lineup beyond traditional luxury sports cars, adding the Macan as a smaller alternative to the Cayenne SUV, as drivers in major markets increasingly demand SUVs and crossovers.