The Korea Herald

지나쌤

Maserati domestic sales soar to record high

By Seo Jee-yeon

Published : Feb. 15, 2015 - 18:47

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Sales in Korea of the Italian luxury sports car brand Maserati soared to a record high of 723 units last year, up 469 percent from 2013, a company executive said last week.

The jump was the highest among markets in the Southeast Asia and Pacific region.

Sales of the Italian company’s luxury vehicles with price tags of over 100 million won ($91,000) grew at 252 percent on average in the same period.

“If we look at Korea, this is the strongest and the biggest market in the (SEAP) region, accounting for 36 percent of sales (in the area),” said Fabrizio Cazzoli, Maserati’s chief executive officer for Japan, at a press conference in Seoul on Thursday.
Maserati Japan CEO Fabrizio Cazzoli (right) poses next to a diesel-powered Quattroporte with Forza Motors Korea chief Lee Gun-hun, who stands next to a Ghibli S, during a press event in Seoul on Thursday. (FMK Korea) Maserati Japan CEO Fabrizio Cazzoli (right) poses next to a diesel-powered Quattroporte with Forza Motors Korea chief Lee Gun-hun, who stands next to a Ghibli S, during a press event in Seoul on Thursday. (FMK Korea)

He added that the upward trend in sales would continue this year.

However, Cazzoli said the company had no plans to increase its number of showrooms and service centers in Korea this year.

Maserati, instead, is pushing to further build up its client list by expanding into a whole new segment, with plans to launch its Levante luxury sport utility vehicle in 2016.

Maserati dismissed concerns that the entry into a new segment, in addition to the soaring sales of the Maserati models, may be a turnoff for customers who choose its cars for their exclusivity.

“The name will, nonetheless, remain a luxury,” Cazzoli said.

“The SUV luxury segment is very big and appealing, and we are going to have an exceptional product in that segment.”

Industry watchers said Maserati’s sales boom is in line with the growing popularity of imported cars in Korea.

Imported cars accounted for 13.92 percent of the local market last year, up from the 12.1 percent logged in the previous year, according to data compiled by Korea Automobile Importers and Distributors Association.

Compared to just five years before when foreign brands’ market share stood at 4.94 percent, their portion has more than doubled.

By Seo Jee-yeon and news reports (jyseo@heraldcorp.com)