Park Jin-hai primarily focuses on K-dramas, entertainment shows and actor interviews. Beyond that, she also pens articles covering the broader arts scene, with a particular emphasis on classical music, dance and various aspects of lifestyle. Since joining The Korea Times in 2013, she has made significant contributions in the realms of hallyu (Korean wave), industry news and international affairs.
Korea is fastest growing Maserati market in Asia
Maserati Japan CEO Fabrizio Cazzoli, right, who will also represent Maserati in Korea, stands behind a Quattroporte Diesel, while Lee Gun-hun, CEO of Forza Motors Korea (FMK), which imports the Italian company’s cars, stands behind a Ghibli S, during a press conference at the Shilla Hotel, in Seoul, Thursday. / Courtesy of FMK
By Park Jin-hai
By Park Jin-hai
Italian luxury brand Maserati said that local sales grew five times last year, making Korea the country with the fastest growth in the Asia Pacific region.
“The largest market in the North East Asian Pacific region in terms of sales volume is Korea, taking 36 percent of the overall market,” said Maserati Japan CEO Fabrizio Cazzoli during a press conference at the Shilla Hotel in Seoul, Thursday.
He also represents Maserati in Korea.
The luxury carmaker sold 723 cars in 2014, up 470 percent from 127 the previous year. The growth rate surpasses the regional average of 252 percent by a large margin as well as its global growth rate of 136 percent.
The explosive sales have been led by its entry level Ghibli, making up 70 percent of the total sold here. The Ghibli Diesel launched last year has been priced at 98.2 million won, a relatively affordable model from the luxury carmaker.
Calling it “game changer,” Cazzoli said based on its success the company now plans to further increase sales of the diesel range to up to 70 percent of domestic Maserati sales in 2015.
The company says it targets to increase local sales by 70 percent this year.
To achieve the target it will introduce a new 350 hp petrol engine for its flagship Quattroporte, while a 3.0-liter twin turbo V6 will also be available from the second half of the year.
Showrooms and service networks will be reinforced. Thanks to its record sales growth, it will open a service center in Gangnam in the first half of the year, following the two regional service centers in Busan and Bundang opened last year.
Maserati Levante, the company’s first luxury sports SUV, is expected to arrive here in 2016, and the concept Alfieri in 2017.
The luxury carmaker aims to boost its global sales to 75,000 by 2018, however, to retain its value as a luxury brand the number will not be increased further.
Meanwhile, the sales of super cars with price tags over 150 million numbered 5,616 last year, nearly double the 2,923 a year earlier, according to the Korea Automobile Importers and Distributors Association.
The “super luxury car” market took 2.86 percent of total imports with nearly 200,000 sold last year.