Fiat Wants Maserati To Challenge Porsche, Bentley - Report
24 October 2011 - 12:40AM
Dow Jones News
Fiat SpA (F.MI, FIATY) Chief Executive Sergio Marchionne told
Automotive News Europe he wants to raise vehicle sales figures for
its luxury sports cars Ferrari and Maserati over the coming years,
with Maserati becoming the brand positioned to challenge other
luxury car makers such as Porsche Automobile Holding (PAH3.XE,
POAHY) and Volkswagen AG's (VOW.XE) British Bentley brand.
According to an interview in an advance copy distributed ahead
of circulation, Marchionne said Ferrari's growth will be limited to
annual sales of 10,000 cars in the medium term. For this year, he
expects a record sale of around 7,000 Ferrari cars globally, up
from 6,573 sold last year. In the medium term, annual sales of
15,000 Ferrari cars would be "dangerous" for Ferrari as they would
challenge the brand's uniqueness.
As for Maserati, Marchionne believes the brand has what is
needed to take on Bentley and Porsche. "We have invested as heavily
as we have in Maserati because this brand has all the elements of
the proper DNA to play in that fight," he said. By 2014, he wants
to increase car sales ten times to around 55,000 to 60,000
vehicles, up from 5,700 cars sold globally last year.
Marchionne said the increase would be mainly fuelled by two
sporty four-door sedans and an SUV similar to the Kubang concept
car unveiled for the first time at the Frankfurt Motor Show last
month.
Newspaper website:
http://europe.autonews.com/apps/pbcs.dll/article?AID=/20111022/ANE/111029956/1193
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.
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