Latest news with #Maserati
CNBC
41 minutes ago
- Automotive
- CNBC
Jeep maker Stellantis weighs sale among options for Maserati, sources say
Stellantis is considering a possible sale of its struggling luxury Maserati unit, among other options, two sources with knowledge of the matter said, as the automaker seeks to overhaul its sprawling portfolio of 14 brands. Discussions over Maserati's future started before new CEO Antonio Filosa, who starts on Monday, was appointed last month, while Stellantis was steered by Chair John Elkann. The viability of the French-Italian company's 14 brands — which include Chrysler, Peugeot, Jeep and Alfa Romeo — was a priority for Elkann as he interviewed candidates to fill the CEO job. Like other European carmakers, the world's fourth biggest automaker is facing hefty U.S. import tariffs imposed by U.S. President Donald Trump and struggling with stiff competition from Chinese rivals. Stellantis hired consultant McKinsey early in April to advise it on the effects of the U.S. tariffs on Maserati and Alfa Romeo as the two brands prepare future plans. Stellantis affirmed then that it was fully committed to both brands. However, a possible divestment of Maserati, its only luxury brand, is among the options McKinsey is exploring for Stellantis, the two sources told Reuters, adding the adviser's assessment was still in the early stages. They spoke on condition of anonymity because they were not authorised to discuss the matter publicly. Asked for comment, a Stellantis spokesperson said: "Respectfully, Maserati is not for sale". McKinsey declined to comment. Filosa's predecessor Carlos Tavares, who resigned in December after a poor performance in the U.S. market, had refused to consider getting rid of any of the carmaker's brands. But some investors and analysts say a streamlined portfolio would boost Stellantis' profit margins. Stellantis shares have lost two-thirds of their value since March last year. Maserati's sales fell by more than half in 2024 to just 11,300 units and the unit posted an adjusted operating loss of 260 million euros ($298 million) last year. The brand currently has no new model launches scheduled as it waits for a new business plan, after its previous one was put on hold by Stellantis last year. Brand head Santo Ficili said earlier this month the plan would be presented soon after Filosa starts the job. One of the sources said Stellantis has been coming to terms with the fact that it has too many brands, making it difficult for it to properly invest in all of them. The carmaker needs to "set priorities," the source said. Stellantis has not specifically mandated McKinsey to find a buyer for Maserati, but the mandate is to consider all options, including a potential sale, the second source said. All options are on the table, the source said. Stellantis' board has been divided over plans for Maserati, one source said. Some board members think Stellantis is not in a position to sustainably re-launch Maserati and suggest selling it is the best option. Others think Maserati still has value and that selling its only luxury brand would be a huge reputational setback for Stellantis. Chinese automakers, such as Chery, might be among those interested in buying European auto brands, to support their expansion in the region, where they still lack brand recognition among consumers. This would be similar to SAIC's 2007 purchase of Britain's MG Motor or Geely's acquisition of Sweden's Volvo Cars in 2010.
Reuters
an hour ago
- Automotive
- Reuters
Jeep maker Stellantis weighs sale among options for Maserati
MILAN, June 20 (Reuters) - Stellantis ( opens new tab is considering a possible sale of its struggling luxury Maserati unit, among other options, two sources with knowledge of the matter said, as the automaker seeks to overhaul its sprawling portfolio of 14 brands. Discussions over Maserati's future started before new CEO Antonio Filosa, who starts on Monday, was appointed last month, while Stellantis was steered by Chair John Elkann. The viability of the French-Italian company's 14 brands - which include Chrysler, Peugeot, Jeep and Alfa Romeo - was a priority for Elkann as he interviewed candidates to fill the CEO job. Like other European carmakers, the world's fourth biggest automaker is facing hefty U.S. import tariffs imposed by U.S. President Donald Trump and struggling with stiff competition from Chinese rivals. Stellantis hired consultant McKinsey early in April to advise it on the effects of the U.S. tariffs on Maserati and Alfa Romeo as the two brands prepare future plans. Stellantis affirmed then that it was fully committed to both brands. However, a possible divestment of Maserati, its only luxury brand, is among the options McKinsey is exploring for Stellantis, the two sources told Reuters, adding the adviser's assessment was still in the early stages. They spoke on condition of anonymity because they were not authorised to discuss the matter publicly. Asked for comment, a Stellantis spokesperson said: "Respectfully, Maserati is not for sale". McKinsey declined to comment. Filosa's predecessor Carlos Tavares, who resigned in December after a poor performance in the U.S. market, had refused to consider getting rid of any of the carmaker's brands. But some investors and analysts say a streamlined portfolio would boost Stellantis' profit margins. Stellantis shares have lost two-thirds of their value since March last year. Maserati's sales fell by more than half in 2024 to just 11,300 units and the unit posted an adjusted operating loss of 260 million euros ($298 million) last year. The brand currently has no new model launches scheduled as it waits for a new business plan, after its previous one was put on hold by Stellantis last year. Brand head Santo Ficili said earlier this month the plan would be presented soon after Filosa starts the job. One of the sources said Stellantis has been coming to terms with the fact that it has too many brands, making it difficult for it to properly invest in all of them. The carmaker needs to "set priorities", the source said. Stellantis has not specifically mandated McKinsey to find a buyer for Maserati, but the mandate is to consider all options, including a potential sale, the second source said. All options are on the table, the source said. Stellantis' board has been divided over plans for Maserati, one source said. Some board members think Stellantis is not in a position to sustainably re-launch Maserati and suggest selling it is the best option. Others think Maserati still has value and that selling its only luxury brand would be a huge reputational setback for Stellantis. Chinese automakers, such as Chery ( might be among those interested in buying European auto brands, to support their expansion in the region, where they still lack brand recognition among consumers. This would be a similar move to SAIC's 2007 purchase of Britain's MG Motor or Geely's ( acquisition of Sweden's Volvo Cars ( opens new tab in 2010. ($1 = 0.8721 euros)
Time of India
an hour ago
- Automotive
- Time of India
Jeep maker Stellantis weighs sale among options for Maserati, sources say
Stellantis is considering a possible sale of its struggling luxury Maserati unit, among other options, two sources with knowledge of the matter said, as the automaker seeks to overhaul its sprawling portfolio of 14 brands. Discussions over Maserati's future started before new CEO Antonio Filosa, who starts on Monday, was appointed last month, while Stellantis was steered by Chair John Elkann. The viability of the French-Italian company's 14 brands - which include Chrysler, Peugeot, Jeep and Alfa Romeo - was a priority for Elkann as he interviewed candidates to fill the CEO job. Like other European carmakers, the world's fourth biggest automaker is facing hefty U.S. import tariffs imposed by U.S. President Donald Trump and struggling with stiff competition from Chinese rivals. Stellantis hired consultant McKinsey early in April to advise it on the effects of the U.S. tariffs on Maserati and Alfa Romeo as the two brands prepare future plans. Stellantis affirmed then that it was fully committed to both brands. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Drink this before bedtime and watch your belly shrink by morning Lulutox Undo However, a possible divestment of Maserati, its only luxury brand, is among the options McKinsey is exploring for Stellantis, the two sources told Reuters, adding the adviser's assessment was still in the early stages. They spoke on condition of anonymity because they were not authorised to discuss the matter publicly. Asked for comment, a Stellantis spokesperson said: "Respectfully, Maserati is not for sale". Live Events McKinsey declined to comment. Filosa's predecessor Carlos Tavares, who resigned in December after a poor performance in the U.S. market, had refused to consider getting rid of any of the carmaker's brands. But some investors and analysts say a streamlined portfolio would boost Stellantis' profit margins. Stellantis shares have lost two-thirds of their value since March last year. FALLING SALES Maserati's sales fell by more than half in 2024 to just 11,300 units and the unit posted an adjusted operating loss of 260 million euros ($298 million) last year. The brand currently has no new model launches scheduled as it waits for a new business plan, after its previous one was put on hold by Stellantis last year. Brand head Santo Ficili said earlier this month the plan would be presented soon after Filosa starts the job. One of the sources said Stellantis has been coming to terms with the fact that it has too many brands, making it difficult for it to properly invest in all of them. The carmaker needs to "set priorities", the source said. Stellantis has not specifically mandated McKinsey to find a buyer for Maserati, but the mandate is to consider all options, including a potential sale, the second source said. All options are on the table, the source said. Stellantis' board has been divided over plans for Maserati, one source said. Some board members think Stellantis is not in a position to sustainably re-launch Maserati and suggest selling it is the best option. Others think Maserati still has value and that selling its only luxury brand would be a huge reputational setback for Stellantis. Chinese automakers, such as Chery, might be among those interested in buying European auto brands, to support their expansion in the region, where they still lack brand recognition among consumers. This would be a similar move to SAIC's 2007 purchase of Britain's MG Motor or Geely's acquisition of Sweden's Volvo Cars in 2010.
Yahoo
an hour ago
- Automotive
- Yahoo
Exclusive-Jeep maker Stellantis weighs sale among options for Maserati, sources say
By Giulio Piovaccari MILAN (Reuters) -Stellantis is considering a possible sale of its struggling luxury Maserati unit, among other options, two sources with knowledge of the matter said, as the automaker seeks to overhaul its sprawling portfolio of 14 brands. Discussions over Maserati's future started before new CEO Antonio Filosa, who starts on Monday, was appointed last month, while Stellantis was steered by Chair John Elkann. The viability of the French-Italian company's 14 brands - which include Chrysler, Peugeot, Jeep and Alfa Romeo - was a priority for Elkann as he interviewed candidates to fill the CEO job. Like other European carmakers, the world's fourth biggest automaker is facing hefty U.S. import tariffs imposed by U.S. President Donald Trump and struggling with stiff competition from Chinese rivals. Stellantis hired consultant McKinsey early in April to advise it on the effects of the U.S. tariffs on Maserati and Alfa Romeo as the two brands prepare future plans. Stellantis affirmed then that it was fully committed to both brands. However, a possible divestment of Maserati, its only luxury brand, is among the options McKinsey is exploring for Stellantis, the two sources told Reuters, adding the adviser's assessment was still in the early stages. They spoke on condition of anonymity because they were not authorised to discuss the matter publicly. Asked for comment, a Stellantis spokesperson said: "Respectfully, Maserati is not for sale". McKinsey declined to comment. Filosa's predecessor Carlos Tavares, who resigned in December after a poor performance in the U.S. market, had refused to consider getting rid of any of the carmaker's brands. But some investors and analysts say a streamlined portfolio would boost Stellantis' profit margins. Stellantis shares have lost two-thirds of their value since March last year. FALLING SALES Maserati's sales fell by more than half in 2024 to just 11,300 units and the unit posted an adjusted operating loss of 260 million euros ($298 million) last year. The brand currently has no new model launches scheduled as it waits for a new business plan, after its previous one was put on hold by Stellantis last year. Brand head Santo Ficili said earlier this month the plan would be presented soon after Filosa starts the job. One of the sources said Stellantis has been coming to terms with the fact that it has too many brands, making it difficult for it to properly invest in all of them. The carmaker needs to "set priorities", the source said. Stellantis has not specifically mandated McKinsey to find a buyer for Maserati, but the mandate is to consider all options, including a potential sale, the second source said. All options are on the table, the source said. Stellantis' board has been divided over plans for Maserati, one source said. Some board members think Stellantis is not in a position to sustainably re-launch Maserati and suggest selling it is the best option. Others think Maserati still has value and that selling its only luxury brand would be a huge reputational setback for Stellantis. Chinese automakers, such as Chery, might be among those interested in buying European auto brands, to support their expansion in the region, where they still lack brand recognition among consumers. This would be a similar move to SAIC's 2007 purchase of Britain's MG Motor or Geely's acquisition of Sweden's Volvo Cars in 2010. ($1 = 0.8721 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News18
5 hours ago
- Automotive
- News18
In Bizarre Scene, Man Takes Mercedes Down Iconic Spanish Steps And Gets Stuck
Last Updated: The vehicle descended partway down the steps before coming to a complete stop. An 80-year-old man unintentionally drove his compact Mercedes-Benz A-Class sedan down the famous Spanish Steps in Rome early Tuesday morning, June 12. This led to an unexpected rescue operation involving police, firefighters and a crane. The incident has sparked widespread attention both locally and online. According to a CNN report, the incident occurred around 4 AM, when the man, navigating through central Rome, mistakenly turned onto the historic staircase. The vehicle descended partway down the steps before coming to a complete stop, wedged and unable to move further. According to a statement released by city police, the man was not under the influence of alcohol or drugs at the time of the incident. Officers patrolling the area stopped him and took him to a hospital as a precaution. Medical tests confirmed he had not consumed any substances, and he was found to be uninjured. The man told officers that he had been 'going to work" when the confusion happened. It is still unclear whether he was relying on a GPS for directions or driving based on memory. Video footage of the moment is now doing the rounds on the Internet. It shows the grey sedan descending the staircase before getting stuck between the steps. Later in the video, a crane can be seen lifting the car off the steps. An 80-year-old man got his Mercedes-Benz car stuck while driving down the Spanish Steps in Rome in the early hours of June driver tested negative for alcohol but was in a state of confusion. #Roman #ITALIANO #Driver #MercedesBenz — HKeye (@HKeye_) June 19, 2025 The area was quickly cordoned off, and public access to the Spanish Steps has been temporarily restricted. Authorities noted that in cases involving protected heritage sites, archaeologists are called in to assess potential damage. While a visual inspection revealed damage to the vehicle, officials have yet to confirm whether the staircase itself sustained any harm. The Spanish Steps, or Scalinata di Trinità dei Monti, are among Rome's most iconic landmarks. Built in the 1720s, the grand staircase connects the Trinità dei Monti church at the top to the Piazza di Spagna below. Designed by architects Francesco de Sanctis and Alessandro Specchi, the staircase features 135 travertine stone steps. This isn't the first time the historic site has faced such an unusual incident. In 2022, a 37-year-old man from Saudi Arabia drove a Maserati down the same staircase, causing physical damage to the monument. In that case, the driver fled the scene immediately but was later tracked down using surveillance footage and rental car records. He was eventually arrested at Milan's Malpensa airport and was charged with aggravated damage to cultural heritage and monuments.
