New Iconic GT and Grecale CUV Boosting Maserati’s Prospects

When Stellantis tapped William Peffer Jr. to run Maserati, the 109-year old Italian luxury performance brand in the U.S., his experience as chief commercial officer at Kia Motors America, a vastly different brand with a very different audience, came up as being quite relevant.

“I suppose the connection is, in both cases it’s about being and staying profitable and getting more into the conversation with the target audience. Those things are not exclusive to any segment of the market, luxury performance or mass market,” Peffer tells Wards.

Maserati and Alfa Romeo, both in the Stellantis constellation, are managed separately, though both businesses together are family jewels meant to up the automaker’s game in the premium luxury segment. Luxury doesn’t mean what it used to, however, and Stellantis has a multi-front luxury strategy.

Alfa transacts mostly between $60,000-100,000, while Maserati sells mostly north of $100,000, though the new Grecale overlaps with Alfa pricing, transacting for between $60,000-$100,000 as a new kind of entry Maserati. But as far as Stellantis goes, let’s not forget that Jeep Grand Cherokee does a good business in trims topping $50,000, a Wrangler Special Edition can hit $115,000, while Ram pickup prices can run from $86,000 for mortal buyers, all the way up above $200,000 for the TRX performance model.

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Despite its history and reputation for producing high-performance sports cars, Maserati has struggled to gain a significant foothold in the highly competitive U.S. automotive market for the roughly half-century it has been imported under varying ownerships. However, with the introduction of its latest model, the Grecale CUV, and an all-new GranTurismo that includes a battery-electric version, Maserati's sales prospects in the U.S. may be looking up.

The Grecale, built on the same platform as the Alfa Romeo Stelvio, is a stylish CUV that the company expects to be a game-changer for Maserati in the U.S. market – the way the Cayenne and subsequent crossovers made Porsche profitable and relevant with a broader customer group. The hope is that the Grecale lineup, more affordable than other Maserati’s, will chip off customers of the German and Japanese luxury brands who are looking for a bit of brand distinction at the country club parking lot, or even the pick-up lane at school.

The Grecale is being offered in the U.S. first in a hybrid version. Maserati says its whole showroom lineup will have electrified versions as soon as 2025.

The all-new GranTurismo, unveiled last fall, will go on sale in the U.S. in the second half of this year, and come in Modena and Trofeo versions, as well as Folgore (Italian for “Thunderbolt”).

Peffer says the Maserati business stabilized in 2021 when it achieved profitability, and that black ink continued for 2022. With a full year of Grecale sales this year, that success should only improve. “Our profitability picture looks very solid, so our focus is on increasing engagement with the brand and the new models,” says Peffer.

Stellantis showed Wards the GranTurismo Modena at Stellantis headquarters in Michigan, along with the Grecale hybrid. The company showed the Grecale Folgore BEV at the Shanghai auto show this month. Folgore will be the sub-brand designating all Maserati BEVs.

The GT’s Gee-Whiz Details:

Modena produces 490 hp from a twin-turbo 3.0L Nettuno V-6.and has a top speed of 188 mph (303 km/h).

SUVs are the fastest-growing segment in the U.S. automotive market – both mass market and luxury – and Maserati is adding the Grecale to its showrooms this year. With its sleek design and beautifully tailored interior and sophisticated technology, the Grecale looks to be a legitimate alternative to BMW, Mercedes-Benz, Audi and Lexus, while also priced to attract consideration of a whole new audience.

The availability of the Grecale should drive growth. Maserati's U.S. sales have been declining in recent years, falling by over 50% from their peak in 2014.

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Grecale Highlights

The Grecale should be a significant contributor to Maserati's sales growth too. Maserati has targeted 75,000 units a year globally by 2025.

Maserati's U.S. dealers are investing heavily in improving the customer experience, with new showrooms and customer service initiatives.

Broad brand awareness among luxury buyers because of its long history cuts both ways with Maserati. Much of its U.S. history is dotted with varying ownerships (Lee Iacocca’s Chrysler owned a piece of the company at one time) and dealers going in and out of business. That kind of inconsistency breeds distrust.

As Stellantis solidifies the showroom with CUVs and works to improve dealer profitability, product quality and reliability, the next question for Maserati is: Will early adopters of EVs, known inside marketing departments as “lovers of the new,” embrace battery-electric vehicles from a company founded in 1914 and known far more for style than trust?.