Maserati is Ready to Party

With record sales and great new cars including the Quattroporte, Maserati's low-tech style is winning back well-heeled drivers the world over

by David Kiley

As the dizzying nichefication of the luxury car market dominated by the Germans and Asians continues, with the occasional worthy entry from the British, it's easy to forget the Italians are still playing in this park. And I don't mean the super-duper sports cars from Ferrari, Lamborghini, and Bugatti. Anyway, those last two are owned by Volkswagen (VLKAY).

No, I'm talking about Maserati. Left for dead several times in its nearly century-long history and forgotten by many Americans when it exited the U.S. in 1990, Maserati is on a steady comeback globally, and especially in the U.S.

Maserati's flagship is the Quattroporte, a four-door sedan that competes with the likes of…well, that's a tough one. A large, plush rear-drive sedan powered by a 400-horsepower 4.2-liter V-8 engine that makes 0 to 60 mph in just over five seconds could be said to compete with models ranging from Jaguar S-Type and BMW 7 Series to Bentley Continental GT. At $120,000 or so, it leans more Bentley than Jaguar.

But it's the style and Italian-ness that sells Maseratis. At one time thought of as a poor man's Ferrari, Maserati has come into its own. "Our customers are people who like 'quiet' money," says global CEO Roberto Ronchi. Indeed, the average Maserati buyer, according to the company's marketing book, has a net worth of $5 million to $7 million, and owns four to six cars.

Popularity and Growth

Maserati, owned and controlled by Fiat (FIA.MI) today, sold 7,353 cars last year, 33.3% more than the previous year, through a network of 272 dealers in 59 countries on five continents. The U.S. market was in first place, with 2,600 vehicles delivered in 2007, 20.5% more than the preceding year, followed by Italy with 714 vehicles, a 40% increase from 2006. In October the company set a new one-month production record of 850 vehicles, the same number it produced in an entire year just a few years ago.

Key to the growth and increased popularity has been the introduction of a new automatic transmission. When the previous Quattroporte sedan was introduced in 2003, it was fitted with a cumbersome and jerky semi-automatic transmission whose shortcomings quickly spread around the Internet and to car enthusiasts. "It was a key problem we had to sort out, and we did," says Ronchi.

Maserati sold 5,450 Quattroportes worldwide last year, a hike of 80%, including 2,200 in the U.S., which represented a surge of 56%. Modena (Italy)-based Maserati has the capacity to build about 10,000 cars a year, which it achieves by hand with no robots. It figures to hit 8,500 total cars in 2008, and is planning an expansion.

The Grand GranTurismo

The newest Maserati in the neighborhood is the GranTurismo, a coupe based on a shortened version of the Quattroporte. At first glance, one might be tempted to compare this car with a BMW 6 Series, a Jaguar XKR, or a Mercedes-Benz CL550. And that comparison might put a few people off, since the GT is about $114,000, compared with the $80,000 to $90,000 it takes to buy the other three.

But we are talking style here. Italian style. With Maserati's limited sales, there is value for some in being the only cat in the neighborhood driving a "Maz." Indeed, the body, designed by Italian coach builder Pininfarina, borders on sumptuous. The hand-stitching on the rich leather surfaces inside is enough to make you forget how much your house fell in value last month, or the cost of the fill-up.

The GranTurismo lacks the high-tech interfaces of German luxe cars, and that is one of its endearing qualities—no gadgets such as night vision or adaptive cruise control or a knockoff of BMW's iDrive.