Maserati posts record profit

Maserati has finally posted a higher profit than Italy’s traditional supercar powerhouse, Ferrari.

The on-a-roll Maserati yesterday (Oct 30) posted a third-quarter operating profit of €90 million, just a million euros more than Ferrari’s operating profit over the same period. Maserati's third-quarter operating profit in 2013 was €43 million.

The Trident-badged brand more than tripled its volume across the first nine months of 2014, jumping from 7548 big sedans, coupes and convertibles to the end of September, 2013, to 26,428 to the end of September this year. Across the three months of the third quarter, it grew from 2013’s 3953 sales to 8896 Ghiblis, Quattroportes, GranTurismos and GranCabrios.

Often seen as the poor cousin to Ferrari, even though it’s celebrating its centenary year, it trumped Ferrari’s third-quarter profit largely due to Maranello eating €15 million to pay out ousted Chairman, Luca di Montezemolo.

Replaced by Fiat Chrysler Automobiles CEO Sergio Marchionne on October 13, di Montezemolo received the payment as part of a non-compete clause that prevents him joining an FCA rival until March 2017. The 67-year-old will also receive €13.7 million in installments across the next 20 years.

Yet while Ferrari’s volume dropped one per cent to the end of September to 5280 cars, its profit over the first nine months of the year is still higher than Maserati’s, with the Prancing Horse’s €274 million outpacing the Trident’s €210 million.

Maserati is surging towards its target of 50,000 cars a year by 2016, with its Levante SUV due in 2015 and a production version of the stunning Alfieri concept car said to be in the works for 2016.

Yet all is not what it seems in the rivalry between the prestige brands, because when Maserati grows, so does Ferrari.

Maserati has long been the biggest customer Ferrari has, because all the engines Maserati uses are built by Maranello and Ferrari charges Maserati handsomely for the privilege.