FCA CEO Sergio Marchionne has confirmed Maserati are to add a second SUV to it’s model line up in 2020. Expected to be a ‘baby’ SUV to the existing Levante, it will help the brand to reach 70,000 to 80,000 vehicle sales a year, Marchionne said.
The new SUV will use Alfa Romeo’s Giorgio rear-wheel-drive/all-wheel-drive platform that also underpins Alfa’s Stelvio, Expected to be priced at the top end of the Jaguar F-Pace and to take on the Porsche Macan, it will be interesting to see how the new smaller SUV will fit into the FCA family, as previously they have confirmed they want to stay clear of any ‘cannibalism, with different brands overlapping, effectively stealing sales off each other.
‘Maserati needs another car, and that’s something that we just – we had just finished our executive meetings today, I think we’re well on our way to getting that done,” Marchionne said. “It needs a smaller SUV than it has today.” The new SUV will also help Maserati to boost annual earnings to 1 billion euros, he told financial analysts on a third-quarter earnings call on Tuesday.
FCA stock surged Tuesday on the positive third-quarter earnings but declined slightly in pre-market trading Wednesday. The stock has risen over 160% during the past 12 months. During the analysts call Marchionne confirmed that Maserati has been slowing production of the Levante to “align output with the market demand.” FCA finance chief Richard Palmer said the company expects a strong fourth quarter for Maserati.