Italian brands Maserati and Alfa Romeo are at the heart of a major strategic reflection at Stellantis. With sales plummeting and the new 25-percent U.S. import taxes threatening further pain to the vulnerable brands, the auto giant could consider splitting the two brands, or even selling Maserati.
McKinsey mandated to find a solution
According to Bloomberg, Stellantis has called on consulting firm McKinsey & Co. to evaluate different turnaround options. Company Chairman John Elkann reportedly asked it to examine technological alliances with other manufacturers, particularly Asian groups.
Although some Chinese manufacturers have expressed interest, Elkann has ruled out a sale to China, according to Maserati CEO Santo Ficili.
Worrying figures
Both Italian brands are, to put it mildly, struggling. In 2024, Alfa Romeo's sales fell by 10 to 15 percent, for an estimated total of around 65,000 units. Maserati is doing even worse: sales halved, with only 11,300 units sold, leading to a loss of 260 million euros (about $285 million USD).
The most worrying aspect? 35 to 40 percent of Maserati's sales are in the U.S., now subject to the new tariffs.
Trump's tariffs: The noose tightens
Neither Maserati nor Alfa Romeo have factories in North America. As a result, all their vehicles are now subject to a 25-percent import tax, making them even less attractive to North American buyers.
Stellantis is itself in a difficult position. Sales in North America fell by 25 percent in 2024, and net profits plummeted by 70 percent. The first quarter of 2025 was also disastrous. In reaction, the company announced 5,400 temporary layoffs in the U.S., Canada and Mexico, as well as month-long production shutdowns at several factories.
The uncertain future of Italian brands
The situation is leading some to wonder if an Asian manufacturer, perhaps Japanese, Korean or even Chinese, might stand a better chance of reviving Maserati and Alfa Romeo. After all, the potential for synergy between the two brands – like the Volkswagen-Audi duo – have never fully materialized under Stellantis.
A page could turn
Faced with financial losses, slumping sales and an unstable geopolitical context, Stellantis seems ready to profoundly reorganize its brand portfolio. If Maserati were to be sold or repositioned, it would mark a historic turning point for a brand founded in 1914. As for Alfa Romeo, its future will depend on its ability to rebound quickly in key markets, despite the headwinds.