'There is space for Maserati in India': CEO Santo Ficili on expansion and new customers

The roads of southern Italy and India may have more in common than one would expect. At least that is how Santo Ficili, global CEO of Maserati, sees it. Drawing a comparison between the two markets, Ficili said the Grecale SUV is well suited to Indian road conditions, much like it is to roads in parts of Italy. But beyond the suitability of its cars, the Italian luxury carmaker is also looking at a changing Indian customer base, with younger buyers and women emerging as an important audience for the brand.

Maserati is looking to build its presence in India gradually, keeping pace with the country’s economic growth rather than aggressively chasing volumes. The company also wants to strike a balance between its traditional customers, who are drawn to its heritage and performance, and a younger generation looking for more digital features and a different in-car experience.

“I think the Grecale is a perfect car here in India. That’s my opinion. Not because I’m talking with you, but because when I look at the car, and knowing the roads here, I think it is perfect. Italy is not so different, especially in the south of Italy. It’s similar,” Ficili said.

The Maserati CEO was speaking during his India visit for the formal launch of Navnit Maserati. The event, held at the Grand Hyatt Mumbai, also saw the introduction of the updated Grecale, GranTurismo and GranCabrio range, alongside the India debut of the GT2 Stradale. The Navnit Maserati showroom at Trade Centre in Bandra-Kurla Complex will serve as the brand’s primary retail hub for Mumbai and western India.

Ficili said the company sees potential for both the internal combustion engine (ICE) and electric versions of the Grecale in India. However, he emphasised that Maserati is not looking to push volumes aggressively in the market. “What’s important for me is to grow step by step, following the evolution of the economy here,” he said.

The company is also working with three dealer partners in India, with two already operating and another joining the network. Ficili said having the right entrepreneurs representing the brand would be important to its expansion, particularly as Maserati looks to strengthen its after-sales operations and customer relationships.

Maserati targets younger, female buyers while retaining traditional customer base

Ficili identified two broad customer groups for Maserati globally, including its traditional buyers, who have followed the brand for years, and a younger audience that is approaching the luxury carmaker with different expectations. The latter includes more women buyers and customers who are increasingly interested in digital features and technology inside their vehicles.

“We have two different customers for Maserati. There are the older ones that are passionate about and in love with the history of this brand--the classic customers. They bought the Quattroporte, the Ghibli, the Levante and the Grecale,” he said.

“But now we are also attracting new customers. Younger customers, female also. They are interested in something different from this kind of product, looking at digital features, not only analogue,” Ficili added.

He said the challenge for Maserati would be to cater to both groups without moving too far away from the brand’s traditional identity. While younger buyers are looking for more technology, Ficili said he does not want Maserati vehicles to become dominated by large screens. “My opinion, as head of the brand, is that we need to find the right balance between digital and analogue in the car. I don’t want to see big screens as I find this dangerous as well. When you drive, you need to look at what is happening,” he said.

The company is looking to reflect this shift across its product development, communication and dealership experience. Ficili said attracting newer customer groups could also help Maserati increase volumes, while maintaining the residual value of its vehicles remains a key priority.

Electrification is another part of the company’s India strategy, although Ficili said the pace of adoption would depend on the market. While he believes the Grecale Folgore, the electric version of the SUV, has potential in India, he flagged charging infrastructure as a concern.

Ficili said Maserati would continue to offer a mix of battery electric vehicles (BEVs) and internal combustion engine models, depending on customer preferences, regulations and infrastructure in individual markets. He said the earlier industry-wide expectation of moving entirely towards electric vehicles was changing, and that a country-by-country approach was necessary.

Maserati acknowledges financial pressure

Maserati’s India expansion comes at a time when the company is working to revive its global business and return to profitability. Ficili acknowledged that the brand’s financial performance remains under pressure, with parent company Stellantis currently supporting its operations. “The economic result of Maserati is not so brilliant at this time. We are losing money,” he said.

“Luckily, we have Stellantis that is helping us. But there will be a moment in which we need to recover,” he added.

Ficili said improving the residual value of Maserati vehicles would be central to the turnaround. The company is working across inventory management, after-sales service, pricing, brand positioning, product quality and communication to ensure that customers do not see their vehicles lose a significant portion of their value soon after purchase. “For a luxury brand like Maserati, it’s important to maintain the value of the product. How can you keep the residual value over time? That’s fundamental,” he said.

Ficili added that Maserati would need to remain flexible as the automotive industry navigates electrification, changing customer preferences and increasing competition, including from Chinese manufacturers. “We need to be flexible, in my opinion. This means that you need to invest money, selecting the customer, or better, the country where you can see the possibility to grow, like here in India,” he said.

Alfa Romeo plans new model for early 2028; India launch to be evaluated

Ficili, who also heads Alfa Romeo, disclosed that the Italian brand is working on a new model scheduled for the beginning of 2028. The company will subsequently assess whether there is an opportunity to introduce the vehicle in India. “Beginning of 2028, we will launch a new model for Alfa Romeo. We are working to arrive at that time with a new model. Then we will see if there is space here in India or in other countries,” he said.

Alfa Romeo currently has four models in its range, including the Junior, Tonale, Stelvio and Giulia, alongside the 33 Stradale. Ficili said the company was working to address demand across different powertrain categories, including electric, plug-in hybrid and internal combustion engine vehicles.