Maserati's CEO Sergio Marchionne announced the Italian luxury car manufacturer will release a new SUV by 2020. Projected to be slightly smaller than the current Levante model by the Fiat Chrysler-owned company, the unnamed SUV will be a hybrid model and enjoy the same successful Giorgio platform used for the Alfa Romeo Stelvio.
Although few details have emerged at this time about the new design, the current Alfa Romeo Stelvio boasts 5.4 seconds to 60 MPH and a respectable 14-second quarter mile in a compact engine. Maserati has promised to deliver an electric drive power train on all of its models no later than 2019. This newest design will feature eco-friendly emissions and meet Maserati's electric pledge. The promised SUV design will likely improve on these specifications as well as deliver Maserati's signature recognizable design with a focus on luxury.
CEO Sergio Marchionne expects the new SUV to increase Maserati's overall sales. Current 2017 sales are up for the company despite lower than expected earnings from the Quattroporte sedan. The introduction of the Levante has leveraged a positive impact for the company. The Levante starts at $73,300 and has boosted sales by 12,000 vehicles this year alone. Fiat Chrysler stock has reflected the increased sales this year with prices rising over $10 per share since November 2016.
If Maserati continues the current trend and upholds their promise, consumers will have yet another luxury option for their garage. Marchionne's vision features a shift in the U.S. market away from a passenger car model and towards an American-friendly SUV model. This shift has proven successful so far with yet another surge in stock price following the announcement of the unnamed 2020 SUV. Maserati's stock prices have soared over the last year and are expected to continue to rise with the latest promise of an expanded line.
Main competitors Porsche and Ferrari appear to be taking different stances on design and marketing strategy. While the Porsche line features an SUV model, the starting price is significantly higher than Maserati at $124,600. Ferrari has not announced an SUV at the time of this article. Does this mean we will see more Maseratis in the streets and in television and movies, or will simple luxury sports cars continue to rule the day?
[Featured Image by Maserati]