Tuesday 24 April 2018

Maserati shipments soar 148 per cent

Manama, January 31, 2014

Italian luxury car manufacturer Maserati posted a 148 per cent increase in shipments last year which soared to 15,400 vehicles, driven by the success of the new Quattroporte and Ghibli models launched during the year.

For the Quattroporte, which was released in March, shipments totalled 7,800 units. For the Ghibli, a total of 2,900 units were shipped between launch in October and year-end, reported the Gulf Daily News, our sister publication.

As of December 31, the order intake for the two new models totalled 13,000 units apiece, stated the report.

Combined shipments for the GranTurismo and GranCabrio were in line with 2012 at 4,700 units for the year.

All markets contributed positively to the significant year-over-year increase.

The US remained the brand's number one market with shipments up 138 per cent over the prior year to 6,900 units.

China, the brand's second largest market, recorded the highest percentage increase with shipments up 334 per cent to 3,800 units.

Even in Europe, where economic conditions remained difficult, shipments were up 133 per cent to 2,500 units on the back of the contribution of the new models.

Results were also strong for the Asia-Pacific region (excluding China) and the Middle East, which registered increases of 52 per cent (1,300 vehicles) and 81 per cent (750 vehicles), respectively.

Revenues totalled 1.66 billion euros ($2,26 billion) for the year, an increase of 120 per cent over 2012.

Maserati closed last year with full-year trading profit of 171 million euros, or 10.3 per cent margin, representing a 114m euros increase over the prior year (57 million euros in 2012).

Earnings before interest and taxes (EBIT), which included a 65 million euros write-down of previously capitalised research and development related to a new model, the development of which has now been switched to a more technically advanced platform considered more appropriate for the Maserati brand, totalled 106 million euros.

The year-over-year improvement reflected the significant increase in volumes.

Maserati's fourth quarter revenues totalled 776 million euros, representing 47 per cent of revenues for the full year and nearly four-times the fourth quarter of 2012 level, with a significant contribution from the newly-launched Ghibli.

Trading profit was 123 million euros for the quarter, an increase of 110 million euros.

EBIT, which included the above mentioned unusual charge, was 58 million euros.

In January last year, Maserati gave its world premiere presentation of both the V8 (530 hp) and V6 (410 hp) versions of the new Quattroporte at the North American International Auto Show in Detroit.

At the Geneva Motor Show in March, Maserati presented the four-seat GranTurismo MC Stradale and, for the first time in Europe, the new Quattroporte, said the report.

The Shanghai Motor Show in April was the chosen venue for the world premiere presentation of the new Maserati Ghibli.

At the Frankfurt Motor Show in September, Maserati showcased the diesel version of the Quattroporte along with the Ermenegildo Zegna Limited Edition concept version, the first project in partnership with the premiere Italian fashion house.

Mid-November saw the North American debut of the Ghibli at the Los Angeles Auto Show, it added.-TradeArabia News Service

Tags: Maserati | italy luxury car |

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