Maserati’s crisis weighs heavily on Stellantis’ balance sheet. In 2024, the Trident brand posted a record loss of €701 million (approximately $813 million), forcing the automotive group to inject €350 million ($406 million) in capital to contain the damage.
Maserati deep in the red: record €701 million loss in 2024, Stellantis forced to step in
The figure is particularly alarming when compared to 2023, when losses stood at just €96 million. In twelve months, the deficit increased more than sevenfold. Despite this, Stellantis has no intention of divesting the brand and is instead focused on a relaunch strategy.
Managing Maserati’s crisis is one of the main challenges facing Antonio Filosa, the new CEO of Stellantis. The 2024 results were especially poor: deliveries dropped to 10,030 units, down 58.8% year-over-year. Revenue fell by 60.6%, down to €803.3 million ($931 million), while production declined by 59.6%.
Despite a 38.6% reduction in costs, the operating margin worsened further, resulting in an operational loss of €483.5 million and a pre-tax loss of €501.9 million. Maserati attempted to stem the bleeding by cutting R&D investments from €199 million to €106 million and reducing personnel costs by 25%, down to €75 million. However, these measures were not enough to offset the sharp decline in revenues.
Additional issues emerged throughout 2024, including €5.7 million in write-downs related to the cancellation of projects such as the MC20 BEV and the new Quattroporte. Despite the increasingly negative outlook, Stellantis opted to support the brand, raising the capital reserve to €550 million, even as Maserati’s net equity fell drastically to €173 million.
The crisis has continued into the first half of 2025: only 140 units were produced at the Mirafiori plant, and just 45 in Modena. To make matters worse, new U.S. tariffs on European cars now pose an additional threat to sales in one of Maserati’s key markets.
