Italian carmaker Maserati will never start or get involved in a price war with competitors, the CEO of the luxury subsidiary of Stellantis said on Friday.
"We would be completely strategically off-balance if we did that," Davide Grasso told a press briefing when discussing the brand's first half results published earlier last week as part of those of Stellantis.
As supply chain tensions ease, especially around semiconductors which has hugely impacted global car output, analysts fear automakers might rush to reduce prices to protect market share, with US electric car maker Tesla kicking off a round of cuts in several markets.
"Pricing is a very critical element in general, but particularly for a luxury brand. That's why it's important we're not led by volumes," Grasso said.
"Our goal is to make the best cars we can make for somebody to appreciate and pay the price".
He said Maserati, which shipped 15,300 vehicles in the fist half, supported by the Grecale SUV and the Gran Turismo, was increasingly scrutinising its dealers to ensure they were maintaining discipline on prices.
"We don't want to send the wrong message to customers," he said.
The cars are aimed at an affluent customer base. In Italy, the Grecale starts from €81,000 (roughly R1,575,979) including sales tax, while the top of the range MC20 Cielo sportscar is priced from €268,000 (roughly R5,201,236).
Modena-based Maserati, an autonomous unit within Stellantis, posted a €121m (roughly R2,348,345,820) adjusted operating profit in the fist half, almost doubled compared to the same period of 2022.
The margin on adjusted operating profit rose to 9.2% from 6.6%.
Stellantis CFO Natalie Knight said earlier last week Maserati was on track to deliver a "sustainable" 15% margin next year. In the longer term the carmaker aims for a 20% margin.
"For the past 16 quarters, we always had progress, even during the pandemic," Grasso said.
Stellantis CEO Carlos Tavares also ruled out any IPO or spin-off plan for the brand.
"It's something not on the horizon for us. We're busy enough with managing the brand and the complexity of the business in these days" Grasso said on Friday.
Maserati will never enter a price war with competitors, says CEO
Image: Supplied
Italian carmaker Maserati will never start or get involved in a price war with competitors, the CEO of the luxury subsidiary of Stellantis said on Friday.
"We would be completely strategically off-balance if we did that," Davide Grasso told a press briefing when discussing the brand's first half results published earlier last week as part of those of Stellantis.
As supply chain tensions ease, especially around semiconductors which has hugely impacted global car output, analysts fear automakers might rush to reduce prices to protect market share, with US electric car maker Tesla kicking off a round of cuts in several markets.
"Pricing is a very critical element in general, but particularly for a luxury brand. That's why it's important we're not led by volumes," Grasso said.
"Our goal is to make the best cars we can make for somebody to appreciate and pay the price".
He said Maserati, which shipped 15,300 vehicles in the fist half, supported by the Grecale SUV and the Gran Turismo, was increasingly scrutinising its dealers to ensure they were maintaining discipline on prices.
"We don't want to send the wrong message to customers," he said.
The cars are aimed at an affluent customer base. In Italy, the Grecale starts from €81,000 (roughly R1,575,979) including sales tax, while the top of the range MC20 Cielo sportscar is priced from €268,000 (roughly R5,201,236).
Modena-based Maserati, an autonomous unit within Stellantis, posted a €121m (roughly R2,348,345,820) adjusted operating profit in the fist half, almost doubled compared to the same period of 2022.
The margin on adjusted operating profit rose to 9.2% from 6.6%.
Stellantis CFO Natalie Knight said earlier last week Maserati was on track to deliver a "sustainable" 15% margin next year. In the longer term the carmaker aims for a 20% margin.
"For the past 16 quarters, we always had progress, even during the pandemic," Grasso said.
Stellantis CEO Carlos Tavares also ruled out any IPO or spin-off plan for the brand.
"It's something not on the horizon for us. We're busy enough with managing the brand and the complexity of the business in these days" Grasso said on Friday.
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