Latest news with #Folgore
The Irish Sun
2 days ago
- Automotive
- The Irish Sun
Huge carmaker ‘may sell iconic luxury motor brand' as sales dive and new CEO takes charge
ONE of the world's largest car manufacturers looks set to sell an iconic sports car brand as sales plummet. Discussions over the future of Maserati remain ongoing as industry giant Stellantis prepares to welcome its new CEO in the coming days. Advertisement 5 Discussions over the future of Maserati remain ongoing Credit: Alamy 5 Stellantis could be forced to sell the luxury car brand Credit: Reuters 5 Last year, the number of Maserati units sold plunged from 26,600 to just 11,300 Credit: Alamy The French-Italian company could be forced to sell the luxury car brand on the back of poor sales over the past year. New CEO Antonio Filosa - who starts on Monday after being appointed last month - faces huge financial decisions as a result of President Trump's brutal trade tariffs. Stellantis - which owns 14 brands across the globe - was McKinsey was called in April this year to advise on struggling brands Maserati and Alfa Romeo, with both experiencing a dire 2024. Advertisement Read more in Motors Last year, the number of Maserati units sold plunged from 26,600 to just 11,300. Stellanis told : "McKinsey has been asked to provide its considerations regarding the recently announced U.S. tariffs for Alfa Romeo and Maserati." Trump's new legislation means tariffs of at least 25 percent on anything imported into the US. Maserati has no new model launches scheduled as it waits for a new business plan , with the last one having been put on hold by Stellantis in 2024. Advertisement Most read in Motors The plan is expected to be presented soon after Filosa starts his new role. But as things stand, it is understood that all options remain on the table for the world-renowned Italian brand. It came after the global firm pulled the plug on a £1.3billion investment in Maserati earlier this year. Advertisement WHO ARE STELLANTIS? The EV, which translates to 'lightning' in Italian, was intended to be the brand's electric alternative to the stunning MC20 sports car. It promised a power output and performance characteristics similar to the existing V6-engined MC20 . The Folgore was set to be one of six Maserati EVs set for launch over the next year or so. But Stellantis chief financial officer Doug Ostermann said they had pulled the plug on Maserati projects, claiming they wanted to review the pace in which sports car owners move over to EVs. Advertisement He said: "We have to recognise the dynamics in that business, particularly in the Chinese market, and our expectations in terms of how quickly that luxury market would transition to electrification." What is Stellantis? Stellantis is the company behind iconic motor brands such as Fiat, Vauxhall and Peugot. The conglomerate, which is the second-largest maker of cars in Europe, owns 14 badges, including Chrysler, Citroen, Jeep and Maserati. The company itself is the product of a merger between Fiat-Chrysler and France's PSA, the maker of Peugeot and Citroen, in 2021. But the motoring giant has encountered increasingly stuttering financial success. And an initial manufacturing break at Stellantis has now been extended as bosses report a collapse in demand for electric cars . Other projects, including EV replacements for the Levante and Quattroporte models , are in danger of being cancelled too. The vehicles were set to be released in 2027 and 2028 respectively. It is understood the three models would have been Maserati's electric line-up as the firm looked to adapt to the EV revolution. Advertisement Before he left the firm last year, Stellantis boss Carlos Tavares claimed the low sales at Maserati were due to advertising issues. He told Top Gear: "Maserati is in the red. The reason is marketing. "The Maserati brand is not clearly positioned and the storytelling is not how it should be. "The brand is not just about sports cars, it's about gran turismo, it's about quality of life, dolce vita and technology." Advertisement 5 Former Stellantis boss Carlos Tavares said the low sales at Maserati were due to advertising issues Credit: Alamy 5 Maserati has no new model launches scheduled as it waits for a new business plan Credit: Alamy
Yahoo
06-03-2025
- Automotive
- Yahoo
Maserati Cancels The Electric MC20 Folgore Before It Was Even Revealed Because Nobody Wanted It
Maserati had big EV plans. Emphasis on had. The brand's plan to go fully electric with a lineup of Folgore models (Italian for lightning) were announced in mid 2022. Maserati said it was going to introduce six new EVs in the following three years, two of which would be all-new models while the other four were to be electric versions of existing models. Three years later and reality has set in. EV sales have slowed, multiple automakers have changed plans by canceling EVs completely or scaling back goals in favor of developing hybrids. Only three of Maserati's Folgore EVs came to market: The Grecale, the GranTurismo and the GranCabrio, all electric versions of existing gas-powered cars. The Quattroporte Folgore has been delayed, and neither of the all-new models have been shown. And now we have confirmation that another one of those planned Folgore models will never see the light of day. The Folgore version of the MC20 supercar, which was first announced back in 2020, has been canceled before it was even revealed due to an unfortunate combination lack of demand and financial troubles. Read more: Porsche Taycan Turbos Have Lost Up To $100,000 Value In 4 Years The UK's Autocar broke the news about the cancellation of Maserati's electric supercar. Maserati's worldwide sales dropped over 57 percent in 2024, going from 26,600 cars moved in 2023 to 11,300 units last year. As a result, Stellantis wrote off a planned £1.2-billion investment in the brand, which put the future of those Folgore models in jeopardy. While some of the other models may just be on hold, Maserati confirmed to Autocar that the MC20 Folgore is canceled, and it's due to lack of demand. Apparently not many people want an electric supercar, even fewer want one from Maserati. MC20 sales as a whole haven't been great. Sure, it's a six-figure supercar, but dealers seem to be struggling to move them. Many dealers have slashed thousands off the sticker prices of MC20s in their inventories, many of which are one to two models years old. In place of the electric MC20, Autocar says that Maserati will just make the gas version of the supercar better. Using lessons learned from the GT2 Stradale, the regular MC20 will get heavily updated, which should give the car more power from its 621-horsepower twin-turbo V6. Maserati's recent financial troubles aren't just affecting the brand's EV plans — the future of some of Maserati's other models is in doubt now too. The next generation of the Levante SUV, a model that's been around with few major updates since its 2017 introduction, is supposedly coming in 2027 if plans still pan out. The next generation of the Quattroporte, which the Ghibli died for, was due out this year but has been delayed until 2028. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
Yahoo
06-03-2025
- Automotive
- Yahoo
Maserati MC20 Folgore Is Canceled After Five Years of Gestation
Maserati has officially canceled plans for an electric supercar, according to a report from . The MC20 Folgore was originally announced in 2020 and was supposed to finally be launched in 2025. A tri-motor powertrain would have churned out at least 700 horsepower, but now the will continue exclusively with its twin-turbocharged V-6 powertrain. Once known for the roar of V-8 engines, Maserati has spent the past couple of years transitioning away from internal combustion and toward an all-electric future. But one element of those plans has now been scrapped after Stellantis recently canceled a roughly $1.5 billion investment in the brand. Maserati had aimed to introduce the MC20 Folgore, an electric version of its slinky supercar, this year. Instead, according to Autocar, the MC20 Folgore has been officially canceled. Maserati first announced its intention to create an electric supercar way back in 2020 when it first revealed the gas-powered MC20. At the time, the Italian automaker said an electric version would arrive shortly after the V-6-engined car went on sale and would pack a 700-hp tri-motor powertrain. But when the MC20 finally hit the streets for the 2022 model year, there was no news about the Folgore version. Last year, Maserati gave us an update on the MC20 Folgore, revealing that it would be launched in 2025. But that plan has been thrown in the scrap heap, with the company reportedly saying that the decision to cancel the MC20 Folgore was caused by a lack of demand. We have reached out the Maserati to confirm the news of the MC20 Folgore's demise and will update this story when we've heard more. Autocar also reported that, instead of the Folgore, Maserati will give the gas-powered MC20 a thorough update that could include some of the upgrades found on the MC20 GT2 Stradale. The cancellation of the MC20 Folgore as well as the retraction of funding by parent company Stellantis calls into question Maserati's greater transition toward electrification, as well as the health of the brand as a whole. Last year, Maserati confirmed that the MC20 Folgore would be followed by a large electric SUV in 2027 and an electric successor to the long-running Quattroporte sedan, which had been delayed to 2028 from its originally scheduled 2024 launch. Given the setbacks Maserati's EVs have already experienced, however, it wouldn't be terribly surprising for the plans that Maserati announced last year to have already shifted. Another interesting factor in the news of the MC20 Folgore's death is the status of the Alfa Romeo 33 Stradale, which shares its bones with the MC20. While the first gas-powered 33 Stradale was delivered last fall, the Alfa Romeo was also supposed to come with an electric version with 750 hp and a 240-mile range. However, with only 33 units of the supercar being built worldwide, it's unclear if Alfa Romeo will follow through on the investment needed for only a handful of electric 33 Stradales. You Might Also Like Car and Driver's 10 Best Cars through the Decades How to Buy or Lease a New Car Lightning Lap Legends: Chevrolet Camaro vs. Ford Mustang!
