Maserati eyes triple-digit growth in India in 3-5 years

Italian luxury sports car manufacturer Maserati is aiming at achieving a strong growth in India in the coming 3-5 years (mid-term), as it observes growing traction in the luxury car segment with a vibrant and booming economy.

The company introduced its four-seater saloon - the GranTurismo sports coupe - at Rs 2.72 crore, ex-showroom, in the country today, and also announced expansion of its retail footprint. And with this aggressive strategy, it anticipates a strong triple-digit growth in the mid-term. According to Philippe Claverol, Head of Overseas, Maserati, “While we had only one dealership in Mumbai, given the size of the country, it clearly is not enough.”

“Therefore, we are opening two new outlets - first in Delhi to cater to the biggest region (North), followed by one in Bengaluru to cater to a high-potential market within India,” he added.

“With these three outlets in Mumbai, Delhi, and Bengaluru, coupled with a new vehicle portfolio, we expect to grow in India at triple-digit rate in the mid-term. Based on these three dealerships, we will have a better understanding of the market, and we will be able to further identify more growth opportunities in the future,” outlined Claverol.

Maserati is betting big on the potential of SUVs in its portfolio, which, led by the Grecale, is expected to drive a major portion of the company's volumes in the country. According to Claverol, “With Grecale, we have a car, which while is a true Maserati, its compact size is good for everyday driving as well. Being an SUV and with its 4x4 attributes, it can go on any kind of road, and that is an important aspect in India. Therefore, the Grecale is a key weapon in our arsenal.”

Maserati is also optimistic about the potential of the GranTurismo, which offers the USPs of being a four seater as well as having a 4x4 drivetrain. “That enables it to serve many duties and we will also be introducing a Cabriolet version of the GranTurismo in the future,” revealed Claverol.

The company's current range of models are available in India with an average lead time of 4-6 months, and going forward, Maserati also aims to attract younger luxury car customers with its modern range of cars and new showrooms. “We expect young entrepreneurs and second-generation heirs of successful entrepreneurs increasingly becoming our new customers in India. Our customers in India will be younger than those in Europe,” he said.

In line with its global product strategy, Maserati also aims to bring electrified models to India.. “At Maserati, we are looking to have an electric (Folgore) version of the Grecale, GranTurismo and the GranCabrio. These cars exist even today, but the question for us is to look at the market and make the experience for electric Maseratis perfect for our customers.

“As soon as we are ready to provide this great experience to our customers, probably next year, we will introduce these electric models. Furthermore, we will also consider the market conditions, tax scenarios, et al, as we believe it would be difficult for customers to make the switch to EVs if they are much more expensive than ICE, as Maserati has a strong heritage in internal-combustion engine cars. 

“Having said that, we plan to introduce EVs in India as we know environmental sustainability is a key agenda for our customers even in India,” Claverol signed off.