By Giulio Piovaccari

Milan (Reuters)-Stellantis plans, among other options, the possibility of selling the manufacturer of luxury cars Maserati, said two sources to the file, while the Franco-Italian-American group seeks to reorganize its vast portfolio of 14 brands.

The discussions on the future of Maserati began before the appointment last month of the new director general of Stellantis Antonio Filosa, who will take office on Monday.

The viability of the 14 brands of the company – which includes Chrysler, Peugeot, Jeep and Alfa Romeo – was a priority for John Elkann, president of Stellantis and at the manufacturer’s operational controls since the departure of Carlos Tavares at the end of last year.

Like other European car manufacturers, the fourth world car manufacturer faces the threat of import duties for imports imposed by US President Donald Trump and the fierce competition from Chinese groups.

In early April, Stellantis hired the consulting firm McKinsey to inform him of the effects of American customs duties on Maserati and Alfa Romeo.

At the time, Stellantis said he was fully committed to supporting the two brands.

A possible sale of Maserati, the only luxury brand in Stellantis, is however one of the options explored by McKinsey, said the two sources in Reuters, adding that the assessment of the consulting firm was only in beginnings.

Sources have expressed themselves under the cover of anonymity because they are not authorized to discuss this case publicly.

“Respectfully, Maserati is not for sale,” said a Stellantis spokesperson when he was questioned about it.

McKinsey refused to comment.

Former Director General Carlos Tavares, who brutally resigned in December in the face of growing disagreements that appeared with the reference shareholders on his methods to redress the group’s financial and operational situation, had refused to get rid of one of the manufacturer’s brands.

Some investors and analysts consider, however, that a rationalization of the Stellantis portfolio would allow it to increase its beneficiary margin.

Fall in sales

Maserati sales fell more than half in 2024 to only 11,300 units and the luxury car manufacturer recorded an adjusted operating loss of 260 million euros last year.

Currently, the brand has no new models to launch, pending a new corporate plan and after the previous one was abandoned by Stellantis last year.

The brand’s director, Santo Ficili, said at the beginning of the month that the plan would be presented shortly after the arrival of Antonio Filosa at the general management.

According to a source, Stellantis has reached the conclusion that he has too many marks, which prevents him from investing adequately in each of them.

The automaker must “establish priorities,” said this source.

According to a second source, Stellantis did not specifically load McKinsey to find a buyer for Maserati, but the mandate consists in considering all the options, including a possible sale, and all the options are on the table.

The board of directors of Stellantis is however divided on projects concerning Maserati, said a source.

Some council members believe that Stellantis is unable to revive Maserati permanently and suggest that sale is the best option.

Others, however, believe that Maserati still has value and that the sale of his only luxury brand would be a huge setback for the reputation of Stellantis.

Chinese manufacturers such as Chery could be among those interested in the purchase of European automotive brands to support their expansion in the region, where they still lack popularity with consumers.

This would be an approach similar to the purchase by SAIC of the British company MG Motor in 2007 or to the acquisition by Geely of the Swedish manufacturer Volvo Cars in 2010.

(Report by Giulio Piovaccari; Diana Mandia, edited by Zhifan Liu)

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