Chrysler 2005 Annual Report Download - page 59

58 Reporton Operations Maserati
01 Report on Operations
Operating Performance
In April 2005, ownership of Maserati was transferred from Ferrari
S.p.A. to Fiat Partecipazioni S.p.A. (a holding company owned
directly by Fiat S.p.A.).The transfer resulted in the creation of a
new entity, established on April 1, 2005, to which the business
operations that produce and sell cars under the Maserati brand
have been conveyed.
For comparison purposes, the Maserati business operations have
been separated from those of Ferrari-Maserati retrospectively to 2004.
Maserati achieved major commercial and racing objectives in 2005.
The success of the Quattroporte drove sales significantly higher,
causing revenues to soar by30.3% compared with 2004. Maserati
products - the Quattroporte, the MC12 and the Pininfarina Birdcage
75th concept car - were honoured on 11 separate occasions by
the international press.
In December 2005, the Maserati Corse organisation won the FIA
GT Constructors’ Cup and, racing as part of the Vitaphone team,
the FIA GT Team Cup. In July 2005, the Maserati MC12 scored
aprestigious victoryat the Spa 24 HoursRace.
In the eight major markets in which Maserati operates, demand in
the key Coupé and Spyder market segments contracted by 8.4%
and 15.9%, respectively.
In the luxury sedan segment, demand was down 3% compared
with 2004, but the success of the Quattroporte enabled Maserati
to more than double its market share, which rose from 2.1% in
2004 to 4.6% in 2005.
Maserati delivered 5,568 cars to its sales network, a gain of 16.9%
compared with the 4,765 cars shipped in 2004.The outstanding
performance of the Quattroporte accounts for this improvement.
With 2005 sales totalling 2,311 units (1,124 in 2004), the United
States remained Maserati’s most important market.
At the end of 2005, Maserati had orders for 789 cars, 613 of
which were for the Quattroporte.
Innovation and Products
In 2005, Maserati completed the product line renewal process that
got under way in 2004 with the introduction of several new models.
The Quattroporte is now available in three configurations: Standard,
Executive GT and Sport GT. These new versions, which were
presented at the Frankfurt Motor Show in September 2005,
emphasise the multifaceted nature of this car, which combines the
highest level of comfortwith an unmistakablysporty character.
The Quattroporte was Maserati’stop selling model in 2005.
Lastly, the GranSportline was completed with the entryof the
GranSportSpyder.
Maserati Highlights
(in millions of euros) 2005 2004
Net revenues 533 409
Trading profit/(loss) (85) (168)
Operating result (*) (85) (171)
Investments in tangible and intangible assets 20 51
-of which capitalised R&D costs 9–
Total R&D expenses (**) 57 72
Carsdelivered (number) 5,568 4,765
Employees at year-end (number) 606 652
(*) Including restructuring costs and unusual income (expenses).
(**) Including R&D capitalised and charged to operations.