Chinese Buyers Flock to $50,940 Maserati SUVs

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Many Chinese consumers quickly snapped up new Maserati models following a significant price drop on the Italian luxury automaker’s Grecale SUVs, with the all-electric version dropping as low as CNY358,800 (approximately USD50,940).

“On the first day of the price reduction, a line already formed at the entrance before we even opened at 8:30 a.m.,” said a manager at a major Maserati dealership in Shanghai. “Customers kept us busy until 9 p.m., and all the low-spec gasoline-powered Grecale models in the city sold out within two days.”

Throughout the latter half of the year, Maserati implemented several substantial price cuts in China. The price of the gasoline-powered Grecale has dropped from a guide price of CNY650,800 to as low as CNY388,800. Meanwhile, the all-electric Grecale Folgore’s price has fallen from CNY898,800 to CNY358,800.

“Some customers who hesitated during their first visit found the car they wanted was no longer available when they returned the next day,” the dealership manager added. “All low-end gasoline and electric Grecale models have now been sold out nationwide.”

A source close to the brand explained that these rare and sizable discounts stem from a delay of about a year and a half in the arrival of imported vehicles into China due to the Covid-19 pandemic. This delay caused their sales schedule to overlap with the launch of new models.

“Although we lose money on every one of these cars, we had no choice but to offer significant discounts,” the source said. “The new models have already arrived at ports, and prices will return to normal soon.”

A Beijing dealership reported that all of the roughly 100 discounted low-spec Grecale models priced at CNY388,800 sold out within just a weekend. The remaining similar models in the city now retail around CNY450,000.

Maserati’s sales in China plunged to 1,228 units last year from 14,400 units in 2017, which was its largest market globally at that time. For the first nine months of this year, sales stood at 1,023 units.