Carmaker markets first SUV model

Prices for the new model will start at 999,980 yuan (about $154,400) in China, according to the company. Photo provided to China Daily

The Levante SUV, unveiled at the 2016 Geneva International Motor Show, is expected to push up the sales of Italian luxury carmaker Maserati in the Chinese market in upcoming years, said Harald Wester, chief executive officer of the company.

"The Asia market plays a crucial role in supporting Maserati's growth," Wester said. "Among those markets, China will have the biggest growth potential."

The SUV is expected to help China surpass North America to become the biggest market on Maserati's global map, he said.

China's luxury car market reported sluggish performance in 2015 due to slower economic growth. Many luxury car brands reported negative growth for the first time in the Chinese market.

However, the SUV segment maintained strong growth, owing to the enthusiasm of Chinese buyers for SUVs.

A total of 6.22 million SUVs were sold in 2015 in China, a 52.39 percent surge from 2014, according to data from the China Passenger Car Association.

It is the first SUV Maserati has produced in its centurylong development history.

Maserati released an SUV concept vehicle named the KuBang in 2010 and received positive feedback from global consumers, Wester said.

"Levante has spacious luggage space, a four-wheel drive system and higher ground clearance to meet customers' diversified demand," Wester said. "The Levante retains Maserati's key features that have long been appreciated by customers, for instance, excellent interior and exterior design and dynamic driving performance."

The rapidly developing Chinese market has attracted almost every luxury auto brand to the country in recent decades.

Maserati's elegant design, dynamic driving system and cultural background differentiate the brand from its competitors, Wester said.

"Our marketing strategies are successful so far," he said. "Luxury car buyers are changing. People do not demonstrate their social status by simply buying a brand-new luxury car. They want to find a way to show their personalities and individuality.

"In a luxury car market, it is more important to identify customers' key features and their true needs," he said.

Wester said he expects the brand's first SUV will take market share from its competitors.

Maserati does not plan to compete with its rivals in price or production volume but to pay more attention to maintaining its brand value, he said.

The car will be displayed at Auto China 2016 from Wednesday through May 4. Official sales will begin in the Chinese market in July, Maserati said.

The Levante will be priced starting from 999,980 yuan (about $154,400) in China, according to the company.

Tightened emissions standards and policies in global markets have made new-energy vehicle development a popular topic in the automotive industry. Maserati is also keen to seek opportunities in this sector, Wester said.

He did not disclose more details about Maserati's new-energy vehicle development plan but said there would be a new-energy model in 2018.