Prompted by current stories that Maserati could be up on the market, Stellantis on Tuesday issued a press release denying any plans to dump the luxurious Italian model.

“Stellantis restates unwavering dedication to Maserati’s shiny future because the distinctive luxurious model of the 14 Stellantis manufacturers,” the automaker mentioned in its assertion, Reuters reported.

A lot of the stories on Maserati’s sale cited feedback made by Stellantis CEO Carlos Tavares and CFO Natalie Knight throughout a name following the discharge of the automaker’s first half monetary outcomes on July 25. The outcomes confirmed a 48% decline in web income year-over-year.

Tavares, who in 2021 gave every of Stellantis’ 14 manufacturers a 10-year dedication, mentioned within the name that manufacturers that do not make cash will likely be dropped, whereas Knight mentioned there could also be a time when Stellantis seems at “what’s the perfect dwelling” for Maserati.

Stellantis does not present particular person outcomes for every of its manufacturers aside from Maserati whose deliveries had been simply 6,500 models within the first half of 2024, down from 15,300 a 12 months in the past.

Maserati additionally had an working loss for the interval of 82 million euros ($89 million), down from a revenue of 121 million euros ($131 million).

Maserati has new product within the type of the Grecale compact crossover and redesigned GranTurismo, each of which provide consumers the selection between gasoline and electrical powertrains. All future fashions are anticipated to be electrical solely, beginning with a redesigned Quattroporte that was initially due this 12 months however now may not arrive till 2025.