Maserati has seemingly cracked its long-term profitability problem, even if its 2022 sales fell well short of previously posted targets.
The Stellantis-owned premium brand posted profit margins of 8.7% on revenues of €2.3 billion (£2.0bn) last year. Margins climbed into double digits in the second half, reaching 10.1%, as sales of the new Grecale SUV started coming through.
“Maserati is back, doing the right things in the right way,” said Stellantis CEO Carlos Tavares in an earnings call on Wednesday.
Maserati’s full-year profits of €201 million (£177m) were nearly double those posted in 2021, giving its owners hope that it could end its boom-and-bust cycle, where profits followed new model releases before reverting back into losses.
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Profits were boosted in 2022 by higher average pricing, helped partly by the start of sales of the MC20 supercar, Stellantis said.
