Maserati targets India as top 10 market by 2030, focuses on younger demographic

Italian super-luxury carmaker Maserati, part of the Stellantis automotive group, aims to establish India as one of its top 10 markets by 2030, a senior company official told Mint on Friday.

Known for its high-performance luxury vehicles, Maserati has had a limited presence in India with just one dealership in Mumbai. The company plans to expand its footprint to leverage the growing affluence and demand for ultra-luxury cars in the country.

In 2023, Maserati sold about 50 cars in India, a small number compared to its global sales of 27,000 units. Although India is not among Maserati’s top 20 markets, the company sees significant growth potential.

“We acknowledge that having only one dealership in Mumbai is not enough. We see great potential, particularly in north India, with Delhi as the base, and in Bengaluru,” said Philippe Claverol, head of overseas markets, comprising 66 countries at Maserati, said in an interview.

Maserati plans to open new dealerships in New Delhi and Bengaluru by the end of this year, aiming to increase the brand’s visibility and demonstrating its commitment to the Indian market.

“By the end of this year, we will have three full-fledged dealerships in Mumbai, Delhi and Bengaluru. From there, we will explore opportunities to open additional satellite or full-fledged dealerships as the market demands.”

Although the brand has been cautious about setting specific sales targets, Claverol expressed optimism about India’s long-term prospects.

“India has the potential to become one of the top 10 markets for Maserati, globally. However, this is a step-by-step process, and we are committed to learning and adapting to the local market preferences.” 

Maserati’s strategy in India will not only aim to boost sales but also enhance the overall customer experience, a crucial element in the ultra-luxury segment, where it competes with Italian counterparts Lamborghini and Ferrari.

The luxury carmaker introduced the 2024 GranTurismo in India on Friday, with an ex-showroom price starting at ₹2.72 crore. 

“Our customers are highly demanding and value the experience as much as the product itself. We need to ensure that we provide the right level of excitement and service, from the moment they discover the car to after-sales support.”

India's ultra-luxury car market, though niche, is seeing a steady rise in demand, fuelled by the growing number of high-net-worth individuals. Claverol said this trend aligns with global trends, and India is no exception.

“The number of high-net-worth individuals is growing, and they are looking for unique experiences. Driving a Maserati is part of that uniqueness,” he said, adding that Maserati’s customer base in India is primarily concentrated in Mumbai, with growing interest from cities like New Delhi.

The brand also expects the average age of its Indian customers to be younger compared to traditional markets like Europe, reflecting the country’s dynamic entrepreneurial landscape. “In young economies like India, we tend to see younger customers, especially among entrepreneurs in sectors like IT.”