Fiat Chrysler’s luxury brand Maserati smashed sales records in 2013 with deliveries up 148% to a record of annual tally of 15,400 vehicles, driven by the success of the new Quattroporte and Ghibli models launched during the year, and beating the previous benchmark of 8,600 units set in 2008. As a result, it booked large rises in revenue and profits.
This was even more impressive because many key markets did not get the Quattroporte until the very end of the year, if at all, and the Ghibli will only reach most markets in 2014, so these new modesl have yet to contribute fully to Maserati’s surging deliveries, a spokesman for the Australian and New Zealand distributor told just-auto.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Nonetheless, Maserati delivered 7,800 units of the Quattroporte, which was released in March, while 2,900 Ghiblis were shipped between launch in October and the end of the year.
It ended the year with 13,000 orders each for the two new models, in contrast to the marque’s total 2012 sales of 6,300, sugesting 2014, the legendary company’s centenary year, will be another record breaker.
The US remained Maserati’s top market last year, with sales up 138% to 6,900 vehicles. China saw a huge 334% to 3,800. Europe, despite on-going difficult economic conditions, recorded a 133% rise to 2,500. Asia Pacific, excluding China, rose 52% to 1,300 and Middle East sales climbed 81% to 750.
Revenues totaled EUR1,659m for the year, an increase of 120% over 2012. The brand closed 2013 with full-year trading profit of EUR171m, or 10.3% margin, a EUR114m increase over 2012 (EUR57m).
EBIT, which included a EUR65m write-down of previously capitalised R&D related to a new model, the development of which has now been switched to a more technically advanced platform considered more appropriate for the Maserati brand, totaled EUR106m. The year on year improvement reflected the significant increase in volumes.
Maserati’s fourth quarter revenues totaled EUR776m, 47% alone of the full year total, and nearly four times the Q4 2012 level, with a significant contribution from the newly-launched Ghibli.
Trading profit was EUR123m for the quarter, an increase of EUR110m over Q4 2012. EBIT, which included the one off R&D write-down, was EUR58m.
“The results are a clear vindication of the decision to invest EUR1.4bn in Maserati to develop a range of all-new models, starting with the Quattroporte, and to build new car factories to produce these models,” the spokesman said.
Fiat Group 2013 trading profit off EUR1bn but Europe losses lessen
