Maserati Is Heavily Discounting its Electric Grecale SUV

It may be common for some businesses to implement significant price cuts, but that is certainly not the case for Maserati.

The Italian ultra-luxury automaker, often referred to as the "queen of sports cars," is now offering its entry-level electric Grecale SUV at approximately 388,800 yuan (US$55,185) in China. This represents a substantial discount compared to its original price range of 650,800 yuan to 1.038 million yuan.

The price reductions are proving effective, with cars selling "like hotcakes," according to Xu Xin, a sales official at a prominent Maserati dealership in Shanghai, as reported by China Business News.

"The all-electric version of the Grecale is now priced under 400,000 yuan after discounts, marking a reduction of about 40 percent, which is unusual for Maserati," Xu stated.

Various media reports cite dealers who say there are only about 90 to 100 Grecale selling at this price in China, and has been sold out over one weekend.

Since the second half of this year, Maserati has initiated several rounds of significant price reductions, primarily focusing on the Grecale lineup. These price cuts are part of Maserati's efforts to clear inventory.

The all-electric Grecale was delayed 18 months in entering the Chinese market due to the COVID-19 pandemic. Beijing Business Today reported that there will be no replication of this model. Some dealers advised against buying the car due to maintenance and after-sales issues, according to the report.

Maserati's peak sales in China were 14,400 in 2017, making China its largest market, according to the China Passenger Car Association. Sales fell 71% to 1,228 units in 2024. Its imports to China dropped 3 percent to 1,023 units from January to September.

The luxury automakers is also not doing well in other markets. Although Stellantis closed the third quarter with a 13% increase in revenue, Maserati's delivery continued to fall to about 1,800 cars in the period, 300 fewer than the same period in 2024, and production dropped 65% at plants.

Maserati is not the only brand experiencing performance drops. Bentley, Rolls-Royce, Ferrari, Lamborghini, and Aston Martin sales in China fell 25 percent, 40 percent, 26 percent, 27 percent, and 44 percent year-over-year to 2,608, 789, 881, 608, and 297 units in 2024. Even McLaren, which grew in 2023, dropped 83 percent in 2024 with 38 units imported.