Showing posts with label Maserati. Show all posts
Showing posts with label Maserati. Show all posts

Friday, May 9, 2014

Share price falls on skepticism of Chrysler-Fiat five-year plan

Fiat Chrysler



Following this week's Fiat Chrysler extravaganza, where the Italian-American manufacturer announced its plans for the next five years, the Autoblog staff was cautiously optimistic of the company's future. Investors? Not so much.

Fiat saw its shares tumble 12 percent in Wednesday's trading, falling from 8.67 euros ($12.06 at today's rates) to 7.44 euros ($10.35) as of this writing, with blame partly going to the Italian half of the FCA marriage, which recorded a pretty significant drop in profits during the first quarter of this year.

The plan, which will cost around $77 billion over the next several years, is facing criticism from investors thanks in part to a 1.4-percent drop in Fiat's first-quarter profits, to 622 million euros ($862 million). That figure is also short of Bloomberg analysts' projections, which predicted $1.18 billion in profits before taxes, interest and one-time items.



Marchionne's goal of dramatically increasing sales before 2018 is a particularly big point of contention.

"If you start your 2014-2018 plan with an extremely weak quarter, nobody will give you the credit that you will achieve your targets," Jens Schattner, a Frankfurt-based automotive analyst told Bloomberg. "If it was so easy just to launch new products to be successful in this industry, why wouldn't everybody do exactly the same."

Some of the concerns are even simpler, though.

"These brands need a huge amount of work to get where they need to be. The world changes very slowly and you have brands at the bottom of the pile in many regions. It's not going to happen overnight," said Harald Hendrikse, a London-based analyst for Nomura Holdings.

Alfa Romeo and Maserati are perhaps the biggest points of concern, each brand facing its fair share of struggles over the years. Marchionne's goal of dramatically increasing sales (over five-fold for Alfa and nearly as much for Maserati) before 2018 is a particularly big point of contention.

"The aspiration is big but the questions are bigger," said Erik Gordon, a business professor at the University of Michigan. "Can Fiat do enough to turn Alfa into a big, profitable brand? Are there enough Maserati buyers to make Fiat a global player?"

While we like what we saw earlier this week in Auburn Hills, it seems fairly clear that there will be a number of bumps in the road along the way. Whether the analysts' concerns end up being correct, though, remains to be seen.
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Sunday, January 20, 2013

Sales of Cars Costing Over $130,000 Will Rise 35% by 2015 – Strong Demand from US and China

Sales of Cars Costing Over $130,000 Will Rise 35% by 2015 – Strong Demand from US and China

As most of the world’s countries struggle with the precarious economic situation we have been facing for the last few years, and while manufacturers are looking to build ever-cheaper and more efficient cars, sales of luxury and sports cars costing over $130,000 are still set to rise, in 2013.

The strong demand comes from the US and Chinese markets, which have not really been affected by the economic downturn that much. Now, sales of such cars are set to increase by a whopping 35%, by 2015, reaching the highest level since 2007 in 2013. This is helped by a 52% surge in North America, which helps Fiat and Volkswagen, two companies who between themselves own Ferrari, Maserati, Lamborghini, Bentley, Bugatti and Porsche.

Now, a very important model for the US market is getting ever closer to the showroom floor – the Maserati Levante SUV. It will be added to the US lineup of offerings, alongside the new Quattroporte and the Ghibli sedan(BMW 5-Series-sized offering), which they hope will boost their total sales figure to 50,000 units per year, by 2015.

The Ghibli will come this year, while buyers will have to wait until 2014 to get the Levante SUV.
China is also a strong market for supercars, and it has now officially become the number one market for many exotic car makers, like Lamborghini, for instance, while Ferrari is also well-represented and more and more of their cars are spotted on the street, brand new, and being driven by ‘new money’.

News Source: autonews.com

Wednesday, January 16, 2013

Maserati and Lamborghini pull out of Iran

Maserati and Lamborghini pull out of Iran
Daimler is out, Toyota is out, Porsche is out, Hyundai, PSA Peugeot-Citroën are out and when it comes to selling cars in Iran, now Maserati and Lamborghini are out, too. The definitive pullouts of those last two automakers are said to be reactions to a press conference held by a group called United Against Nuclear Iran (UANI). The group highlights businesses that sell in both the US market and Iran, and works to get those businesses to choose one market or the other.

UANI said it had sent letters to Maserati and Lamborghini about their dealings in Iran, but that the letters went unanswered. Mark Wallace, head of UANI and a former US ambassador to the United Nations, held a press conference in October of last year that referenced the two companies. Apparently Lamborghini contacted Wallace just after the press conference and told him "they were out, they weren't doing any business in Iran anymore."

Discussions with Maserati then took place, and the Italian automaker said it had been out of Iran ever since Fiat announced it was leaving the country in May 2011. UANI said Maserati had been in talks with an Iranian distributor, however, and that distributor was continuing to use the Maserati name. The carmaker has since cut all ties with Iranian interests and has prevented its name from being used, adding that its new models will not be able to be sold there because they won't pass regulations the country's regulations. 

News Source: Algemeiner via Motor Authority

Thursday, January 10, 2013

Lamborghini and Maserati Abandon Business in Iran

Lamborghini and Maserati Abandon Business in Iran
After many months of rumors and deliberations, Maserati and Lamborghini have confirmed that they’re withdrawing all business from Iran effective immediately. The shock announcements comes after a campaign run by the United Against Nuclear Iran (UANI) organisation pressured the two firm’s to shut up shop.

Back in October 2012, UANI spokesman Nathan Carleton said, “We weren’t trying to just embarrass anyone. We sent several letters to both companies asking them about their business in Iran and they just didn’t write back”.

Following on from these talks, Carleton added that “After the event we were immediately contacted by Lamborghini. They told us they were out, they weren’t doing any business in Iran anymore. We’re happy with that,” and not long after, Maserati followed suit. Maserati which is an arm of the Fiat Group, stated it was leaving the region after Fiat announced in May 2012 that it had lost a presence in the Islamic Republic.

New York City Public advocate Bill de Blasio concluded by stating, “This is one more step in the right direction in a crucial campaign to hit the Iranian regime at its economic core. Maserati and Lamborghini have done the right thing in pulling their business from Iran – and I am pleased we can remove them from Iranwatchlist.com. This is also a strong message to New Yorkers and Americans: we as consumers can help fight against a nuclear Iran, and I plan to continue this fight relentlessly, with as many allies as we can assemble.” 

News Source: Algemeiner

Monday, January 7, 2013

Ferrari and Maserati Sales Decline in Italy

Ferrari and Maserati Sales Decline in Italy
Luxury car makers Maserati and Ferrari have reported a decline in sales at their home country in Italy. Maserati’s sales fell by 72% while those of the Ferrari fell by 56%. The actual numbers; Ferrari sold only 248 cars in Italy last year while Maserati had the lowest by selling only 115 cars in Italy. All this comes amidst the recession in Italy. 

Tuesday, January 1, 2013

Video: Maserati Testing New Quattroporte at Night

Video: Maserati Testing the new Quattroporte
Maserati is edging closer and closer to beginning the first deliveries of its latest iteration of the successful Quattroporte super-sedan. 

Saturday, December 29, 2012

Leak confirms Maserati product plans, five new models

Leak confirms Maserati product plans, five new models

It isn't a secret that Maserati is planning a product expansion in an attempt sell 50,000 units annually by 2015, but the automaker hasn't officially announced just how it plans to do so. Yes, we've seen (and driven) the 2014 Quattroporte, checked out spy shots for the smaller Ghibli sedan and Maserati even confirmed the Levante name for its SUV, but a leaked document reported by CarScoop could shed some light on how the Italian automaker intends on carrying out its rapid growth.