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Fiat's Maserati brand to open dealership in Tehran
MILAN (MarketWatch) -- Italian luxury sports car maker Maserati plans to open a dealership in Tehran, Iran, next year, as it expands its international network, not only to enhance its independence as a brand within Fiat SpA (F.MI) but also to tap demand from a new, wealthy elite in emerging markets.
Maserati won't own the dealership, preferring to import cars to a representative, a spokeswoman for the brand said Friday, confirming a report in Il Sole 24 Ore, an Italian business daily.
Maserati, whose models like the GrandTurismo cost more than EUR100,000 each, has made a push into new markets, bringing the number of dealerships it has worldwide to 250. The latest additions including those in Tel Aviv, Israel; Warsaw, Poland; and Damascus, Syria.
Only in regions like Europe does it own the dealerships directly.
Fiat is majority owner of Chrysler Group LLC, whose country, the U.S., has a trade embargo on Iran.
Maserati is one of the smallest brands within Fiat. In the first half of the year, it delivered 3,213 vehicles to its network. Revenue was EUR303 million, and trading profit, or operating profit excluding restructuring items, totaled EUR18 million.
MILAN (MarketWatch) -- Italian luxury sports car maker Maserati plans to open a dealership in Tehran, Iran, next year, as it expands its international network, not only to enhance its independence as a brand within Fiat SpA (F.MI) but also to tap demand from a new, wealthy elite in emerging markets.
Maserati won't own the dealership, preferring to import cars to a representative, a spokeswoman for the brand said Friday, confirming a report in Il Sole 24 Ore, an Italian business daily.
Maserati, whose models like the GrandTurismo cost more than EUR100,000 each, has made a push into new markets, bringing the number of dealerships it has worldwide to 250. The latest additions including those in Tel Aviv, Israel; Warsaw, Poland; and Damascus, Syria.
Only in regions like Europe does it own the dealerships directly.
Fiat is majority owner of Chrysler Group LLC, whose country, the U.S., has a trade embargo on Iran.
Maserati is one of the smallest brands within Fiat. In the first half of the year, it delivered 3,213 vehicles to its network. Revenue was EUR303 million, and trading profit, or operating profit excluding restructuring items, totaled EUR18 million.
