Maserati: UK profit surges as sales accelerate
Profit at the UK arm of Maserati has almost doubled in the last four years as its sales continue on their upward trajectory.
The car maker, which is owned by Stellantis, has reported a pre-tax profit of £326,000 for 2024, up from the £321,000 it posted in 2023.
The latest figure is up from the £176,000 pre-tax profit it achieved in 2020.
New accounts filed with Companies House also how Maserati’s turnover increased from £5.3m to £6.8m in 2024.
Maserati’s turnover has increased every year since falling from £6.6m to £4.7m in 2020.
Maserati said the increase in its turnover was mainly because of a rise in marketing recharges and growth in demo car sales.
It added that marketing and promotional events have increased since market conditions have improved.
Maserati said: “the company has benefitted from global marketing campaigns by the parent company on newer models including hybrid models of existing ranges.”
Marketing recharges grew from £4.8m to £5.6m while demo and press car sales jumped from £532,000 to £1.1m.
Maserati owner warns of Trump’s tariffs hit
As well as Maserati, Stellantis’ brands include Fiat, Peugeot, Vauxhall, Jeep, Chrysler, Alfa Romeo and Citroen.
Last month, the owner of Maserati said it will have to shoulder a €1.5bn (£1.3bn) hit from President Donald Trump’s swingeing tariffs on cars this year despite the trade deal struck between the European Union and United States.
Stellantis confirmed in a half-year update that it had already incurred levies of €300m on its US exports this year, and expects that figure to rise dramatically in the wake of the US-EU trade pact.
The €1.5bn hit is at the top end of the €1.0-€1.5bn range it provided last week alongside its preliminary results, which also revealed a 13 per cent drop in net revenues that led it to post a loss of €2.3bn.
In May, Stellantis picked 25-year veteran Antonio Filosa as its new chief executive to replace Carlos Tavares, who was pushed out in December following a series of profit warnings after sales plummeted.