BEV Plans Cancelled, Sales Decline: Stellantis Reassesses Maserati’s Future

• Stellantis hires McKinsey to evaluate Maserati and Alfa Romeo amid U.S. tariff threat.

• Maserati cancels MC20 BEV due to weak demand and internal consumer research findings.

• Stellantis withdraws $1.7 billion in EV investment, shifts focus to ICE models.

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Stellantis NV has retained McKinsey & Co. consultancy to advise on strategic options for Maserati and Alfa Romeo. The conglomerate is facing mounting pressure from U.S. import tariffs and the continued underperformance of the two brands.

Chairman John Elkann has commissioned McKinsey to assess responses to the 25% tariffs imposed by U.S. President Donald Trump on imported vehicles. These levies threaten to substantially reduce earnings from Stellantis’ luxury brands, which rely heavily on exports to North America.

According to individuals familiar with the matter, the consultancy is exploring options that include technical partnerships with Asian manufacturers. Although discussions are at an early stage, a spin-off of Maserati is also being considered. The sources said Stellantis has ruled out selling either brand to a Chinese automaker.

Stellantis has offered price discounts in the United States to mitigate concerns over increased costs. Maserati, which imports 100% of its vehicles to the U.S., posted an adjusted operating loss of €260 million in 2024. Approximately 35% to 40% of Maserati’s sales are generated in the American market.

Due to changing consumer preferences, Maserati has cancelled its battery-electric MC20 supercar, which was initially planned for launch later this year. Weak sales for its existing BEV lineup, including the Grecale Folgore SUV, which registered just 57 sales in Italy and 72 in France in early 2024, motivated the decision.

Internal market research demonstrated that MC20 customers prefer gasoline-powered performance cars and are generally not interested in transitioning to battery-electric models. Stellantis has withdrawn approximately £1.3 billion (U.S. $1.7 billion) in planned investment for future Maserati electric models, including replacements for the Quattroporte and Levante.

The MC20 GT2 Stradale, a road-focused version of the existing performance car, is now the only new model Maserati expects to launch in 2025.

Stellantis, created in 2021 through Fiat Chrysler’s and PSA Group’s merger, has struggled to maintain momentum across its 14-brand portfolio. Former CEO Carlos Tavares left the company in December 2024, and a new CEO is expected to be appointed this month.

Maserati’s global sales dropped by 39.55% in 2024, with just 11,300 vehicles sold, down from 26,600 the previous year. The brand’s future remains uncertain.

Source: Bloomberg