Italian carmaker Maserati banking on entrepreneurs to drive India story

Italian luxury carmaker Maserati expects to record a triple-digit growth in volume sales in India in the next 3-5 years due to the rise in the number of entrepreneurs, a booming economy, and population with a strong appreciation for luxury products, Head of Overseas Phillipe Claverol told Business Standard on Friday. 

Maserati, which currently operates just a single dealership in India, sold less than 50 cars in the country in 2023.

The company plans to open two new dealerships in Delhi and Bengaluru by early next year, Claverol said after the launch of the second-generation GranTurismo here at a starting price of Rs 2.72 crore (ex-showroom).

 

He, however, clarified that Maserati’s primary focus in India is on improving the customer experience with its products rather than growth in sales numbers.

“I won’t talk about (sales) numbers right now. They are important. But the numbers are not really the point. What is important to me as Maserati is the product experience that we can deliver to our customers,” Claverol explained.

He said the product experience includes not just the experience of discovering and buying the cars but also servicing the cars.

“This is really what we have to build to provide top experience to customers. This is what luxury product buyers expect. They want a unique experience,” he added.

When asked what kind of volume sales growth he is expecting in the next 3-5 years in India, he said it would be in “more than double digits.”

He explained the reasons behind his optimism.

“The Indian economy is rapidly growing. Maserati’s customers are majorly entrepreneurs. People who have built companies and who are running companies. We see in India a lot of people who are building companies and who are also making a mark on the international scene. These are the people who are buying Maseratis. That is the first reason why we see potential in India,” he said.

“India is an old civilisation that has a long tradition of jewelleries, diamonds, perfumes, textiles and so on. In this country, there is a good understanding of what luxury is, what it means to buy to drive and experience a luxury product like a Maserati. So, it is a good background to expand our operations in India,” he added.

In 2022, the sales numbers were quite similar, he explained.

“The big trend in the automotive years in the last few years is the decline in the popularity of sedan cars in favour of the SUVs (sport utility vehicles). About 30 years ago, the successful entrepreneur was driving a big sedan car. Today, the successful entrepreneur drives an SUV,” he added.