Stellantis(US:STLA) Mei Ri Jing Ji Xin Wen·2025-12-15 11:02Core Viewpoint - Maserati is experiencing significant price reductions on its Grecale model to clear inventory, which has led to a surge in sales, but this strategy is also indicative of broader challenges facing the brand in the luxury automotive market [2][3][4]. Group 1: Sales Performance - Maserati's global sales dropped from 26,689 units in 2023 to 14,725 units in 2024, a decline of over 40% [5]. - In China, Maserati's sales fell from approximately 4,680 units in 2022 to 1,209 units in 2024, with the market share decreasing from 20% to 8.2% during the same period [5]. - The brand's sales in China for 2023 showed a decline of 3% year-on-year, with only 1,023 units sold in the first nine months of 2024 [6]. Group 2: Pricing Strategy - The Grecale model's official price was reduced from 650,800 yuan to 388,800 yuan, representing a discount of over 260,000 yuan, or approximately 60% off [2]. - The electric version of the Grecale saw an even larger price cut, from 898,800 yuan to 358,800 yuan, a reduction of 540,000 yuan, or about 40% off [2]. - The aggressive pricing strategy is aimed at clearing out inventory that has been delayed due to the pandemic, with new models set to arrive soon [3][4]. Group 3: Market Dynamics - The decline in Maserati's sales is attributed to reduced demand for Western luxury imports in China and a shrinking product lineup [5]. - The luxury automotive market is becoming increasingly competitive, with Chinese brands gaining market share and challenging traditional luxury brands [7]. - Consumer behavior is shifting towards more rational purchasing decisions, focusing on price, performance, and service quality, which is impacting Maserati's market position [7]. Group 4: Management Changes - Maserati's management in China has seen frequent changes, with three different general managers in a short span, indicating instability within the brand's leadership [6]. - Despite these changes, the brand has not seen an improvement in its declining sales performance in the Chinese market [6].