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Monday, July 15, 2024

Maserati Optimistic About Sales Potential in Asia Pacific Region

This Week

Maserati, the Italian luxury sports car manufacturer, is targeting the LGBTQ community in Thailand and the Asia Pacific as a key demographic for their brand, for boosting their sales potential in 2023.

Despite a slow global economy and a possible recession, Maserati is confident that sales of their super-luxurious cars will increase this year, as members of the LGBTQ community in the region have been gravitating towards unique cars.

Takayuki Kimura, head of Maserati for Asia-Pacific, expects to exceed 4,000 units sold by the end of 2023, up from 2,500 units sold in 2022. According to him, the COVID-19 pandemic did not negatively impact sales of the Italian luxury car brand, and the Asia-Pacific economy will continue to grow, with a better GDP prospect compared to Europe or the US.

According to Bangkok Post, Thailand, and Malaysia reported the most sales of luxury cars in the ASEAN region. Maserati’s market share in Thailand’s luxury automobile industry is currently less than 10 percent, but the company only markets sedans and SUVs in the country, according to Mr. Kimura.

The company plans to sell 15 units in Thailand this year, similar to last year’s numbers. The Maserati MC20 has played a crucial role in driving sales in the country, with the MC20 Cielo starting at THB 26.5 million (USD 773,225), says Piyathep Siwakas, general manager of Maserati Thailand.

Since some customers who identify as LGBTQ are fond of modern cars with unique appearances, they have become a new target market for the car company which attributes 20 percent of its recent sales to such clients.

As the shift from oil-burning, ozone-polluting cars to greener and more sustainable vehicles continues to be a global trend, Maserati also plans to shift towards Electric Vehicles (EVs) in Thailand within the next 3-5 years.

“The world is shifting towards clean and green vehicles. We will follow that trend because Thailand is a high-potential market for EVs,” says Mr. Kimura

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