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Singapore car salesman jailed for gambling away $280k Maserati deposit

Kenny Rogers' country classic The Gambler is right about two things: you gotta know when to hold'em and know when to fold'em. A former Maserati salesman in Singapore is learning that lesson about when to step away from the table, after being sentenced to 33 months in prison for allegedly gambling away a customer's deposit of 350,000 Singapore dollars ($280,800).
According to Asia One, Allan Tan Buan Yuen was selling a Maserati in 2011. He told the customer that the car would take six months to arrive and cost 650,000 Singapore dollars ($522,000). While that may sound high, cars in the Asian country are notoriously expensive.
Yuen asked for a deposit of 150,000 Singapore dollars ($120,400), but instead of handing the money to the dealer, he placed the funds in his own account. Apparently, the customer didn't notice, and over the next few months Yuen received an additional 200,000 Singapore dollars ($160,400) towards the car from him. Clearly, this ruse couldn't last forever, though. When the buyer eventually inquired about his Maserati months later, Yuen admitted that he had already gambled away the entire fortune.

Maserati looking to book 13,000 sales of new Quattroporte in 2013

Europe's continuing financial woe is forcing automakers to get creative, and while Fiat may be scaling back its volume vehicles, it's looking to ramp up production of the exclusive Maserati brand. Following the debut of a new Quattroporte sedan, Fiat wants to boost Maserati sales to 50,000 vehicles by 2015. Maserati may lose as much as €7 million ($9.05 million) this year, and Fiat is betting big on Chrysler platforms and dealers to turn that around.
Currently regarded as a low-volume boutique carmaker, Maserati sold just 6,159 units last year, and 4,700 units through three quarters of this year. For 2013, Fiat boss Sergio Marchionne is targeting 13,000 in sales of the redesigned Quattroporte alone. Fiat apparently wants the brand's low volume image to change, hoping to position it closer to BMW and Porsche in the market.
The recent unveiling of the new Quattroporte will be followed by more new vehicle launches, including a crossover utility called Levante, and a long-promised sub-Quattroporte sedan, called Ghibli. The latter will share certain components with the Chrysler 300 sedan in an effort to optimize production costs. The Ghibli will be positioned to take on the BMW 5 Series and Mercedes-Benz E-Class. It's all in an effort to turn the profit tide for Maserati and its parent company Fiat amidst European economic turmoil.

Maserati's electric Alfieri two-seater coming in 2020

Maserati recently said it would sell its first electric car by 2020, and now we know exactly what it will look like. The company told Just Auto that it would build an EV version of its Alfieri, a two-seat concept car that it first unveiled at the Geneva Motor Show in 2014. The Alfieri (above), which will also be produced with a V6 engine, "is being designed as a competitor to the 911 but it will be a larger car," said European GM Peter Denton. "More the size of a Jaguar F-Type." The gasoline version will go on sale in 2019, Maserati says, well past its original 2016 launch date. It was originally supposed to be a V8, but the company decided to go with a smaller engine to meet environmental requirements. There are no details yet on the performance or price of the EV model, but we'd expect it to have outstanding performance (and hopefully decent endurance), given its Italian pedigree. Maserati's parent Fiat is a reluctant player in the EV industry. CEO Sergio Marchionne recently told Car Magazine that "I don't know how to make [Tesla's] economic model work," but added that there's nothing Elon Musk's company can do that Fiat or Maserati can't. However, the car is set to arrive in 2020 and things can change a lot. Who would have thought just three years ago that Tesla would get nearly 400,000 pre-orders for an EV, for instance, or that Volkswagen would switch from a diesel-heavy lineup to an electrified future? Related Video: This article by Steve Dent originally ran on Engadget, the definitive guide to this connected life. Featured Gallery Maserati Alfieri Concept at 2014 LA Auto Show View 21 Photos News Source: Just Auto Green Maserati Coupe Electric Luxury Performance maserati alfieri