REPORT: McNabb left GM premium post for Maserati position
Mark McNabb loves a challenge. After working for General Motors for 13 months leading Cadillac, Hummer, and Saab, McNabb announced his resignation last week as of June 1. His destination, it turns out, is Maserati, where he'll replace former North American CEO Marti Eulberg, Who resigned last month after less than a year on the job.At GM, McNabb ended up shepherding one of his brands and trying to sell the other two. At Maserati he'll have just one brand to lead and he'll be focused on selling its cars. Maserati sales have done their impression of a sinkhole, falling 48% worldwide and nearly 58% in America, taking revenue numbers with them. We find those numbers a little surprising, but perhaps the coming GranTurismo convertible will help things out. In the mean time, best of luck to you, Mr. McNabb.
[Source: Automotive News - Sub. Req.]
Reader Comments (Page 1 of 1)
Rob 8:59AM (5/28/2009)
Not surprising sales numbers are down so catastrophically.
It isn't that Maseratis are bad cars - it's that the whole edifice of insane
consumption was built on constantly available (and almost free) credit.
Now the fountain has been switched off things will return to normal
- whatever that is.
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Sea Urchin 9:16AM (5/28/2009)
Well i don't think that people who bought Maserattis needed that much credit. Credit is needed for people who lack the money, that is the common folk. People who buy Masserattis are filthy rich.
John 9:22AM (5/28/2009)
People are not taking out loans to buy those kinds of cars (100K+).
It's just the recession and negative perception the media is generating that has car sales way down.
The millionaire demographic who buys those cars are just sitting on the sidelines with their money waiting for better days (in the stock and real estate markets) before buying again.
d4rez 10:20PM (5/28/2009)
Not sure about that, I bought my Granturismo in September last year on finance, the interest rate offered was pretty good even then. It was a case of me having a good income but not neccesarily that much in savings. No one with a shred of intelligence puts down capital when they can get cheap finance, it's all about the oppurtunity cost.
Avinash machado 9:48AM (5/28/2009)
Also I guess it is not politically correct to buy expensive luxury cars these days, even if you are a millionaire.
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David Wiles 10:40AM (5/28/2009)
The "rich" don't simply keep their cash in a safe in a bedroom. They invest it. And everyone's investments (including their real estate holdings) have taken a beating lately in case you haven't heard.
When you add to the loss of net worth the loss of income and jobs in banking, real estate, investment banking, brokerage houses etc, a drop in the sale of luxury goods, even those paid for in cash, should come as no surprise.
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gianluca.morelli2 10:49AM (5/28/2009)
"Maserati", spelled with one "s" and one "t", please... really, it's so frustrating to read names in italian always mispelled.
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spalind 11:34AM (5/28/2009)
McNabb is a beancounting loser who botched his job at Nissan, then helped run Saturn and Hummer, etc. into the ground and is now onto his third brand killing escapade with Maserati...
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