Monday, February 10, 2014
Maserati goes it alone
MASERATI GOES IT ALONE AND PLANS 30 SITES
Maserati is looking to fill open points as the marque moves away from shared operations with sister-brand Ferrari for the first time in the UK.
The move is fuelled by plans to increase volume by nearly 500% this year with the arrival of the Ghibli executive saloon. This went on sale late last month and is targeted for 1000 sales in 2014. Maserati sold a total of 319 cars in the UK last year.
Though existing sites will remain joint operations, new dealers are needed to give Maserati the national coverage it wants: it aims to put customers within 50 minutes’ travel of one of its retailers.
Five new solus outlets have been added in the past 12 months; Bowker Maserati in Blackburn, Arrow Automotive in Cardiff, Motorline Maserati in Maidstone, Marshall Motor Group in Cambridgeshire and Park’s Motor Group covering Glasgow and western Scotland. A soon-to-be-announced Oxford dealership will take the brand to 19 sites, with the target being 25-30. In preparation for the moves, Maserati appointed a dealer development manager in late 2012, with David Aldcroft moving across from a similar role at Harley Davidson.
“We have historically shared showrooms with Ferrari,” said Maserati’s national corporate sales manager Graeme Jenkins. “They are comfortable with their level but we need more so the new ones opening are solus Maserati.”
The Ghibli gives Maserati a sub-£50,000 entry point for the first time, and early trade-ins include SUVs and sports cars, as well as the expected high-end Mercedes E-class and BMW 5-series saloons. The volume target of 1000 units in 2014 rises to 1200 next year and 1500 in 2016, with 70% of registrations expected to be the 275hp 3.0-litre diesel – Maserati’s first diesel-powered car.
The brand is also pledging to control used sales to protect residual values. “The last thing we want to see in three years time is Ghiblis at auction,” said Jenkins, who revealed that part of the agreements with leasing companies is that the first option for returning cars is to offer them back to Maserati dealers. “The volumes are small, which works in our favour as it’s easier to control repatriation,” he concluded.
DATED: 10.02.2014
FEED: ARN
Money Matters
Money matters
INSOLVENCY AT 8-YEAR LOW
The number of individual insolvencies in England and Wales
fell to its lowest level in eight years in 2013, according to
government figures.
In total 101,049 individuals became insolvent last year, the
lowest number since 2005. On the corporate side, 14,982
companies went into liquidation, the lowest since 2007.
DATED: 10.02.14
FEED: ARN
Stockwatch
Stockwatch
End of week share prices
(Changes on previous week in brackets)
Caffyns 525.00p (-20.00p)
Cambria Auto 52.00p (-1.25p)
HR Owen 158.00p (-1.00p)
Inchcape 585.00p (+10.00p)
Lookers 126.50p (no change)
Pendragon 35.00p (+0.75p)
DATED: 10.02.2014
FEED: ARN
