(Reuters) – Stellantis has no intention of selling its luxury vehicle business Maserati or aggregating the unit with other Italian luxury groups, the Jeep maker said on Tuesday.
“Stellantis restates unwavering commitment to Maserati’s bright future as the unique luxury brand of the 14 Stellantis brands,” the carmaker said in a statement, while also reaffirming commitment to its entire portfolio.
Carlos Tavares, the Netherlands-based automaker’s chief, warned last week that if the company’s loss-making brands “don’t make money, we’ll shut them down”.
The comments came after Stellantis delivered worse-than-expected results for the first half.
The Chrysler-parent does not release figures for individual brands, except for Maserati, which reported an adjusted operating loss of 82 million euros for the first half of the year.
Some analysts had previously noted that Maserati could possibly be a target for a sale by Stellantis, while other brands such as Lancia or DS might be at risk of being scrapped, given their marginal contribution to the group’s overall sales.
(Reporting by Valentina Za and Gursimran Kaur; Editing by Mohammed Safi Shamsi)
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