Maserati: unsurprisingly, no positive signs for 2025, except in Germany!

For over a year, Maserati seems to be locked in a downward spiral that nothing can stop. The latest registration figures for January to November 2025 confirm the trend already observed in recent months: the Trident brand continues to fall in almost all its markets worldwide. Only Germany continues to offer a contrasting, almost paradoxical picture, in a landscape that remains gloomy overall.

2025 at its lowest point in more than a decade

Compiling the main countries tracked, Maserati posted an overall decline of 44 % over the year. At this rate, the brand will barely exceed 7,000 registrations in 2025, a threshold it hasn't seen since 2013. Management assumes this trajectory and justifies it with a clear objective: to clean up the inventories inherited from the previous era and move towards a model based exclusively on production to order. This strategy necessarily implies a contraction in volumes, but it does not entirely explain the scale of the decline.

In the United States, Maserati's biggest market, the decline continues apace. November saw 150 registrations, bringing the annual decline to -39 %. The country is still selling models from the old range, such as the Ghibli, Quattroporte and Levante, whose residual stocks are struggling to find takers. Italy, the brand's second-largest market, is no exception to the trend. With 99 units in November, the brand is down 24 % over the year, a worrying level for a national manufacturer that is supposed to embody transalpine automotive luxury.

Japan was stable for the month, with 48 cars, but the annual trend remains poor, at -34 %. The same is true of the United Kingdom, which held steady in November but has posted -27 % since January. Switzerland's decline is even more marked, with -41 %, as are Australia's -29 %, Turkey's -31 % and the Netherlands' -11 %. Spain limits the damage with -13 % for the year, despite a November dominated by the Grecale SUV, while France confirms its very low volumes: just seven units in November, a still modest annual total despite an increase of 20 % which is explained above all by the extremely low base of 2024.

Germany, the only market bucking the trend

In this mosaic of worrying figures, one country stands out: Germany. Not only is Maserati growing there, it has been doing so steadily since the beginning of the year. November confirms this dynamic with 40 registrations, including 36 Grecale. This single model, which has become the brand's mainstay, largely explains the good results in Germany. With annual growth of 26 %, Germany is now Maserati's most dynamic market, which is quite something for an Italian manufacturer in a country renowned for its automotive pragmatism. Here, the Grecale seems to have found a public sensitive to its format, technology and price positioning.

An assertive strategy, but a future still unclear

At Maserati, no one is faking surprise. Since 2025, the brand has chosen to drastically reduce volumes and limit inventories, with the ambition of returning to profitability within two or three years. This trend is set to be reinforced in 2026, a year that is already shaping up to be a carbon copy of 2025, with few new models to fuel sales.

Antonio Filosa, the new CEO of Stellantis, will present the future industrial plan between May and June 2026. It will then be necessary to give this roadmap time to take effect. The first truly structuring novelties may not arrive until 2027, a horizon that still seems remote for a manufacturer whose volumes are eroding month after month.

Country	January - November 2025	Evolution
United States	2706	-39%
Italy	1611	-24%
Japan	676	-34%
Germany	614	26%
United Kingdom	320	-27%
Switzerland	187	-41%
Australia	251	-29%
Turkey	167	-31%
Spain	233	-13%
France	103	20%
Austria	12	-33%
Netherlands	25	-11%