ITALIAN LUXURY CAR MANUFACturer Maserati S.p.A. has officially entered the local market with two of its most prestigious sports cars, in line with the company?s new five-year plan to increase worldwide sales.

Although the Philippines in not a big market for now, Francesco Fabbiani, business development director of Maserati Asia Pacific, said the company believed the country has a potential for future growth in the luxury car segment.

?We believe that in the future, the Philippine market will grow, that?s why we are now here for the long term. The potential for (market) development is higher here than in some European countries because the European markets are already mature,? he explained.

According to Fabbiani, Maserati targets to initially sell 10 to 20 units of the Quattroporte S, the company?s luxury sedan, and of the Granturismo S per year.

Of the target, Maserati has already booked seven to 10 units, whose prices range from P9.8 million to P11.8 million.

Fabbiani also noted that as part of its expansion plan, the company would like to further strengthen its presence in the Southeast Asian market with its entry into the Philippines.

The Italian automaker has already established its presence in Japan, China, Hong Kong, Singapore, Korea, Malaysia, Indonesia and Thailand.

Under its plan, Maserati will increase the brand?s product offering to increase worldwide sales from 2 billion euros in 2009 to 3.5 billion euros in 2014.

?We are confident that we can successfully penetrate our target market. We?ve been getting rave feedbacks. As a matter of fact, we have already sold most of the units that we have pre-ordered,? added Wellington Soong, chair and president of Formula Sports Inc.

FSI, which is the official distributor of Jaguar and Land Rover vehicles, is the exclusive importer and distributor of the Maserati cars.

?These are exciting times for luxury cars enthusiasts. The Maserati brand caters to our most discriminating clientele. Now is the best time to aggressively market the Maserati, given that other luxury vehicles have been around for a while and buyers are hungry for an alternative,? Soong said.

The Quattroporte S is Maserati?s entry in the luxury sedan segment. Its main technical innovation lies under its bonnet, the new and more powerful 4.7-liter V8 engine. In the meantime, the Granturismo S is fitted with the latest version of the wet sump power units, the 4.7-liter V8 engine.