Varoom for sale: Maseratis arrive

$110,000 and up, 12 mpg: Leith selling Italian status car in Triangle

RALEIGH -- Gasoline prices are at record highs. The economy is teetering on recession.

In other words, a perfect time to open the Triangle's first Maserati dealership where cars cost as much as $150,000, get 12 miles per gallon, and buyers must plunk down a federal gas guzzler tax of $2,100 or more.

"They don't even think about it," said Josh Holtzman, the salesman for Leith Maserati who made the new dealership's first sale last week to a Chapel Hill businessman.

Car magnate Mike Leith acquired a franchise from the fabled Italian manufacturer this year. Signs for the dealership at the Leith Euro Center at 4800 Capital Blvd. are still on order, but five of the sleek cars have been delivered. Base prices start at $110,000.

Just having a dealership in the region reflects a sturdy Triangle economy, said Steve Finlay, editor of Ward's Dealer Business, a trade publication based in Detroit. "They won't open one in an impoverished area," Finlay said. Maserati has only 54 North American dealerships; two are in Greensboro and Charlotte.

Leith, already was one of the Triangle's largest dealers, has more than 40 dealerships and vehicle lines from Rolls Royce to Smart cars.

Nationally, car sales for the first three months of 2008 were down 8 percent from the same period a year ago, according to market researcher Autodata.

Purchases of luxury cars were down 6 percent, but Maserati, which has retooled from a complete factory shutdown in 1997, are up 11 percent.

What's to love: status and speed

Part of the allure is the brand's first fully automatic transmission.

"It couldn't be a better time to have a Maserati store," said Ron Pinelli, president of Autodata. "The fortunes in the auto industry are all based on product, and when you have a hot new product, it sells, and there's a lot of profit in the car.

"People who buy expensive cars want the first ones."

Kevin Kane, manager of the Raleigh dealership, expects to sell about 36 Maseratis a year. By comparison, Leith's Volkswagen dealership sells several hundred new and used cars each month.

But the VWs aren't aimed at driving enthusiasts who want 400 horsepower engines built by Ferrari that are capable of top speeds of more than 170 mph.

Maserati offers two models: a four-door Quattroporte sedan that comes in three variations, and a two-door GranTourismo coupe.

The Quattroporte starts at $114,750 and includes the GTS model, which starts at $128,165. A GTS on Leith's lot carried a $141,500 sticker and included options such as a suede headliner ($1,550), special seat stitching ($275) and colored aluminum brake calipers ($600). Base price for the GranTourismo is $110,000.

Kane said an attraction for buyers is being able to customize their cars, although orders will take about three months for delivery.

Maserati was founded in 1914 by six brothers who were racing enthusiasts; they began racking up impressive victories.

Road cars weren't manufactured until 1947, and the company later went through several ownership changes.

The 1980s and 1990s were a dark time for the company because its main model for the U.S., the Biturbo, was notoriously unreliable. In 1991, the company ceased imports to the U.S.

"It wasn't a question of if but when will your Maserati break down," Finlay said.

In 1997, the company was closed by parent company Fiat for a total refurbishing. Cars were redesigned, and sales rose from 598 a decade ago to 7,350 worldwide last year.

"They've solved their quality problem, and it's a really sexy looking Italian car, and it goes" incredibly fast, Finlay said.