Smooth road ahead for Maserati
While the rest of the industry seems to have hit the skids, Maserati seems to go from strength to strength
By Leow Ju-Len in Modena, Italy
RECORD PROFITS AND an expanding lineup are just some of the things the company which once struggled to make money in the best of times hopes to build on, as communications director Luca del Monte tells CarBuyer:
CarBuyer: Luca, can you tell us about the health of the company?
Luca del Monte: Well, the health of the company is very sound. Maserati comes from two consecutive record years of growth. In 2007 we grew 33% over 2006 and in 2008 we grew another 17% versus the previous year, which had been all but an ordinary year.
We went up to over 8,500 units in 2008, which was the best year ever for Maserati, also keeping in mind that in 2008 we tripled the trading profit. Maserati achieved a trading profit for the first time in a long time in 2007 with 24 million Euros (S$48m), and in 2008 we tripled it, bringing it to 72 (S$144m) million. And even though 2009 will be a challenging year for us like for everybody else, I am happy to say that we closed the first three months with a trading profit of 3 million (S$6m).
CB: What about 2009? Are you bracing yourself for a very tough year?
LDM: Certainly so, I don’t think it’s a surprise to anybody. All of the automotive players in the world are having a really difficult year in 2009. Our fortune is that while most of the other players had difficult years in 2008 and some of them even in 2007, we come from very good years. I think our starting position is a very good one.
In terms of sales, of course it would be impossible for us – like for anybody else – to do the same as 2008. But our objective, our target, our goal is to be profitable at the end of the year. I’d like to repeat what Mr (Harold) Wester the chief executive officer said at the Geneva auto show a couple of months ago: in 2009 Maserati will register a trading profit.
CB: Longer term, though, you more or less have only two models. Is it viable for a car company to have two models?
LDM: For a car company of this size and this philosophy, when you have a range of cars like the Quattroporte and another range like the GranTurismo, I think you are pretty complete.
As you know there is something very interesting coming up in the second part of the year – don’t make me say it! – and I think with this car the lineup is absolutely complete. (Expect a convertible version of the GranTurismo - CarBuyer) Besides, the car that will come is something that we have in our tradition so it will definitely complete the range.
I think that this range of products can definitely satisfy all those eager to drive a Maserati.
CB: The whole industry is kind of at a crossroads now, and it would be very helpful to have a crystal ball. Does that make it tough for you, as a relatively small company?
LDM: There are a number of reasons why I believe Maserati looks at the mid-term future and long-term future with optimism. Let me start from a historical reason. As you know, Maserati has a 95-year history, which at different points hasn’t been an easy one.
We always say that Maserati had to reinvent itself many times, the last year was only four years ago when the spinoff from Ferrari occurred. That was in 2005 and we went from minus 88 million Euros (S$176m) in operating profit to plus 72 million – this is only four years.
This company has its roots, and it has lots of experience to make it through. And also don’t forget, yes, Maserati is a small company, but Maserati belongs to Fiat. And Fiat is actually the hottest player in the automotive business today! I think that it’s a good time to be at Maserati today, let me put it this way…
