Stellantis NV is reviewing strategic options for Maserati, including a potential sale of the luxury marque, according to people familiar with the matter. The automaker hired McKinsey & Co. in April to assess the impact of U.S. tariffs on Maserati and sister brand Alfa Romeo and to examine all paths forward for the unit, the sources said. The consultancy’s work is still at an early stage. Maserati, Stellantis’s only luxury division, has struggled to gain traction. Shipments fell more than half in 2024 to about 11,300 vehicles, and the brand posted an adjusted operating loss of roughly €260 million. Product launches are on hold while management drafts a new plan, underscoring the pressure on the marque as competition intensifies and import duties rise. The deliberations form part of a broader review of Stellantis’s 14-brand portfolio led by Chairman John Elkann ahead of the arrival of incoming Chief Executive Officer Antonio Filosa on 23 June. Investors have urged the world’s fourth-largest carmaker to streamline its line-up to bolster margins; the company’s shares have fallen about two-thirds since March last year. Filosa’s predecessor, Carlos Tavares, had resisted divesting any brands. No decision has been made and Stellantis has not mandated advisers to find a buyer, the people said. A company spokesperson said, “Respectfully, Maserati is not for sale.” The board remains divided, with some directors arguing that additional investment is required, while others favor an exit. Potential purchasers could include Chinese groups such as Chery seeking to expand in Europe, the sources added.