Fiat Wants Maserati To Challenge Porsche, Bentley - Report

Fiat SpA (F.MI, FIATY) Chief Executive Sergio Marchionne told Automotive News Europe he wants to raise vehicle sales figures for its luxury sports cars Ferrari and Maserati over the coming years, with Maserati becoming the brand positioned to challenge other luxury car makers such as Porsche Automobile Holding (PAH3.XE, POAHY) and Volkswagen AG's (VOW.XE) British Bentley brand.

According to an interview in an advance copy distributed ahead of circulation, Marchionne said Ferrari's growth will be limited to annual sales of 10,000 cars in the medium term. For this year, he expects a record sale of around 7,000 Ferrari cars globally, up from 6,573 sold last year. In the medium term, annual sales of 15,000 Ferrari cars would be "dangerous" for Ferrari as they would challenge the brand's uniqueness.

As for Maserati, Marchionne believes the brand has what is needed to take on Bentley and Porsche. "We have invested as heavily as we have in Maserati because this brand has all the elements of the proper DNA to play in that fight," he said. By 2014, he wants to increase car sales ten times to around 55,000 to 60,000 vehicles, up from 5,700 cars sold globally last year.

Marchionne said the increase would be mainly fuelled by two sporty four-door sedans and an SUV similar to the Kubang concept car unveiled for the first time at the Frankfurt Motor Show last month.

Newspaper website: http://europe.autonews.com/apps/pbcs.dll/article?AID=/20111022/ANE/111029956/1193

-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.