Martin Leach, the former head of Ford Europe, is to be the new CEO of Fiat Group’s Maserati luxury car brand. Leach was offered the chief executive position at Fiat Auto last year, but was prevented from accepting it due to an anti-competitor clause in his contract with Ford. As the current Maserati chief Antonello Perricone is leaving to replace Ferrari’s chairman Luca di Montezemolo, Martin Leach’s arrival reaffirms Fiat CEO Giuseppe Morchio’s intention to bring in new blood to pull the embattled group out of its crisis.
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Maserati has been struggling to achieve its targets to increase annual sales from 3,000 to 10,000 vehicles by 2008, of which 4,500 will be in the US market. Maserati is counting on its upcoming model, the Quattroporte, to compete against BMW, Jaguar and Mercedes, by offering a high performance sedan model that would appeal to a wider audience. Maserati is currently financially dependent on Ferrari, and still needs to prove itself as a reliable carmaker, especially in the US where consumers have turned their backs on several Italian brands including Fiat, Alfa Romeo and Lancia. After abandoning the US car market in 1991 because of its image of unreliability, Maserati made its reappearance in 2002. Its return strategy has recently been helped by a large investment to upgrade and adapt its old plant in Modena, Italy. The manufacturer has also announced its intention to reduce costs by sharing technology with Volkswagen and Audi. Coupled with attentive management of its dealership network and the construction of a new brand awareness through TV and targeted magazine adverts, Maserati is playing its cards right. However Maserati will have to work extremely hard to make a successful comeback. Success in the US market will be a prerequisite to ensure the survival of the brand, but the appointment of Leach, with his reputation for new ideas and forward thinking, is a step in the right direction. SOURCE: DATAMONITOR COMMENTWIRE (c) 2004 Datamonitor. All rights reserved. Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon.
Go deeper with GlobalData
Discover B2B Marketing That Performs
