Maserati - Transfer Of Ownership From Ferrari To Fiat

Fiat has just announced that the ownership of Maserati, currently wholly owned by Ferrari, will be transferred as soon as practicable to Fiat Group.

The move forsees that Alfa Romeo and Maserati will co-operate closely, both technically and commercially - particularly in important international markets.

Maserati will, however, continue its co-operation with Ferrari - especially in industrial, technical, engine and sales network terms - which has helped re-vitalise the marque.

"This is a significant step forward for both Maserati and Alfa Romeo. The synergies between the two marques will bring benefits to both, and will allow us to strengthen our portfolio offering in the sports car market," said Luca Cordero di Montezemolo, Chairman of Fiat and of Ferrari.

"Maserati is now at a significant point in its development. In 2004 it achieved substantial sales growth to 4,600 cars and received tremendously positive international acclaim for its Quattroporte model."

"This move is essential to the future development of Alfa Romeo," said Sergio Marchionne, CEO of Fiat. "We believe that as part of the re-launch of Fiat Auto, we need to devote great attention to the distinctiveness of our brands. The technical and commercial collaboration between Maserati and Alfa Romeo will give the latter the necessary impetus to re-establish itself as a leading contender in its segment, and to expand its presence in international markets, as has occurred for Maserati."

Published 18 February 2005 Melanie Carter

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