Stellantis will not sell the Maserati brand, it has today confirmed, in spite of CEO Carlos Tavares’ earlier warning he would “shut down” underperforming car makers.
On Monday, Tavares told reporters: "If they don't make money, we will shut them down.” He added: “We cannot afford to have brands that do not make money.”
He also told Bloomberg Television: “The brands are here to be leveraged. If they are not able to monetise the value that they represent, then decisions will come."
This came after profits for the group – which also owns Peugeot, Vauxhall, Fiat and others – slumped 48% year on year in the first six months of 2024, to €5.6
