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Global profits plummeted 73% in 2018 due to sluggish sales in China

2024-09-17 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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According to the annual financial results released by Fiat Chrysler Group (FCA) for 2018, Masadilla's net income fell 34% year-on-year to 2.663 billion euros in 2018, while profit before interest and tax was 151 million euros, down 73% from a year earlier.

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In the statement, Maserati believes that the reason for the large amount of brand profits is the sluggish sales in China. According to statistics, of the 34900 vehicles sold by the Maserati brand worldwide in 2018, domestic sales accounted for about 1/3 of its global sales with 11000 vehicles, and sales in China fell by 32 per cent. Some industry insiders have analyzed this, saying that Maserati's poor market performance in 2018 is a strategic mistake of the FCA Group, so Maserati is gradually moving away from international luxury car brands. FCA CEO Manley also said at an investor conference in 2018 that Maserati should not be allowed to merge with Alfa Romeo, a decision that took a heavy toll on Maserati.

According to previous foreign media reports, Maserati is sparing no effort in brand building and is making an electric supercar called Alfieri to boost sales.

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