Fiat's 5-year plan: More-affordable Maserati and 4 new Ferrari models

Sergio Marchionne, CEO of Fiat S.p.A., which owns 85 percent of the supercar company Ferrari, said that Ferrari plans to boost its profitability with the launch of four new models within the next three years.

Marchionne said Ferrari's future product plan for the next 5 years will focus on increased product profitability.

Maserati, which is also owned by FIAT, plans to launch more-affordable models. Maserati will expand its range downward by adding two premium models priced between 55,000 euros and 70,000 euros ($73,640 to $93,730) in the next five years. The lowest priced Maserati – the GranTurismo – currently starts at more than 112,000 euros.

Those new Maserati and Ferrari models should be able to increase sales numbers in some Middle Eastern markets, where Ferrari and Maserati have a lot of fans but also suffer from a very weak reputation regarding after-sales and customer service.

Just yesterday (20.04.2010) FIAT said in a statement that Luca Cordero di Montezemolo will quit as Fiat S.p.A. chairman. Montezemolo will stay on Fiat Group's board and will remain chairman of the company's Ferrari sports car subsidiary.

TS