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☆ Jeep-maker Stellantis reports sharp fall in revenue as it shifts car portfolio
▼ + stars: | 2024-04-30 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

Maserati's first GranCabrio convertible since 2019 is scheduled to go on sale this summer in the U.S. Global automaker Stellantis on Tuesday reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm. Chief Financial Officer Natalie Knight said year-over-year shipment and net revenue comparisons were difficult due to the company's transition to a "next generation product portfolio manufactured on new platforms." This is a breaking news story and will be updated shortly.

Persons: Maserati's, Natalie Knight Organizations: U.S . Global, Stellantis Locations: U.S

☆ Maserati reveals first GranCabrio convertible sports car since 2019
▼ + stars: | 2024-02-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

At launch, the Maserati GranCabrio is available in the Trofeo trim level. It includes a 3.0 liter twin-turbo V6 engine. The sports car is based off the Maserati GranTurismo Trofeo sedan that's currently on sale starting at $190,000 with the same 3.0 liter twin-turbo V6 engine. Maserati, which is owned by Stellantis , said the price of the convertible model will be announced closer to when the vehicle is available to customers. The 2024 GranCabrio could assist Maserati in growing its profits and sales this year.

Persons: carmaker Organizations: Maserati, Stellantis Locations: U.S

☆ Maserati is reviving the iconic GranTurismo as a $174,000 beast that'll come in both electric and gas-powered models — see inside
▼ + stars: | 2023-04-20 | by ( Alexa St. John | ) www.businessinsider.com time to read: 1 min

The Maserati GranTurismo Modena starts at $174,000. Maserati GranTurismo Modena MaseratiInsider got a look inside this vehicle at Maserati's North American headquarters in Metro Detroit, Michigan. Maserati Americas CEO Bill Peffer told Insider that the company's momentum is largely product-focused right now. After stabilizing the business from a profitability standpoint and changing its product mix, Maserati is focused on introducing to customers its all-new showroom. "We have a job to do to make Maserati more familiar to a wider audience while still maintaining that quintessential, true north of luxury," Peffer said.

☆ Maserati's going electric while simultaneously reconnecting to its gas-powered past
▼ + stars: | 2023-04-19 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

Next year, Maserati will reveal a fully electric sedan for which they will be no gas-powered version at all. So does Ferrari, Maserati’s sister brand until a few years ago when it was spun off under its own stock symbol. The Maserati Grecale SUV has an aggressive driving feel. Now that the spinoff of Ferrari has left Maserati the company’s only ultra-luxury brand, Grasso feels more is expected, he said. “We can only be at ease when Maserati’s profitability is above Stellantis’s profitability,” he said.

These kind of megadeals are at the vanguard of billions of dollars of annual spending on classic cars globally in a wave of investment in this alternative asset. "The track record of the past 30 years tells us classic cars have become a financial asset class we want our clients to have in their portfolios." [1/5] A general view of the classic car collection of Florian Zimmermann, owner of over 300 classic cars, in a warehouse in Lindau, Germany, April 5, 2023. "Electrification will favour classic cars," said Cristiano Bolzoni, head of Maserati's vintage car unit Maserati Classiche. "The classic car community has changed tremendously over the past five to 10 years," Zimmermann said.

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