Fiat reported second-quarter earnings today, and they disappointed.
A drop in year-over-year profits was chalked up to business issues in North and South America.
There were two notable bright spots, however: Ferrari and Maserati, Bloomberg reported.
“Fiat’s luxury division, which includes the Maserati and Ferrari brands, posted a 58 per cent jump in earnings while deliveries almost tripled,” wrote Bloomberg’s Francesca Cinelli.
Neither brand has significant market share in the U.S., and Ferrari is selling about well this year as it did last year. Maserati, on the other hand, has seen sales rise a whopping 329% year-over-year through June, based on data tracked by the Wall Street Journal.
The brand is in the midst of expanding its lineup of vehicles. In the U.S., it established a beachhead with the stylish Quattraporte sedan, which starts at around $US100,000. It rolled out the more compact Ghibli in 2013 (it starts at about $US67,000) and will reportedly introduce an SUV in the next few years.
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