Core Viewpoint - Maserati's sales in China have drastically declined, with only 384 units sold in the first five months of 2023, a significant drop from the peak of 14,500 units in 2017, indicating a severe downturn for the brand in the luxury car market [1][17]. Group 1: Sales Performance - Maserati's sales in China have plummeted, with a 71% year-on-year decrease expected in 2024, and only 384 units sold in the first five months of 2025, down 44% compared to the previous year [17]. - The brand's global sales also reflect a downturn, with a total of 11,300 units sold in 2024, a 57% decline year-on-year [17]. - A Shanghai dealer has offered significant discounts on the Maserati Grecale SUV, with prices starting at 388,800 yuan, a reduction of over 40% from the suggested retail price [1]. Group 2: Brand Image and Market Position - Maserati's brand image has suffered due to its association with the micro-business community, leading to a perception of being a "status symbol for nouveau riche," which has driven high-end customers towards competitors like Porsche and Bentley [16][22]. - The brand's sales peaked in 2017 at 14,500 units, with 40% of buyers being female, but the association with micro-businesses has negatively impacted its luxury status [16][22]. - The decline in sales is attributed not only to market dynamics but also to slow product updates and quality issues, with key models like the Ghibli and Levante being discontinued [22][23]. Group 3: Competitive Landscape - The luxury car market is facing challenges, with competitors like Bentley, Rolls-Royce, and Ferrari also experiencing declines in sales, indicating a broader trend affecting high-end brands [19]. - The shift in consumer preferences towards electric vehicles and domestic brands is further complicating Maserati's market position, as younger consumers are less enamored with traditional luxury brands [24]. - Maserati's future may hinge on its ability to innovate and adapt to the electric vehicle trend, with the first electric models not expected until 2025 [22][27].