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Maserati betting big on Levante SUV

In 2014, Maserati was booming thanks to a sales spike, and executives contemplated capping production. The company's fortunes, however, have changed quickly this year. Its sales dropped 13 percent globally to 8,281 cars in the second quarter, and earnings were down 30 percent, according to Automotive News. This performance has led the company to pin its future hopes on the launch of the Levante crossover. The Levante arrives in the first half of 2016. An official debut is scheduled for sometime this year, according to the company's five-year plan, though the unveiling might be pushed back until the 2016 Detroit auto show in January, Automotive News reports. The Levante shares a platform with the Ghibli and reportedly will use its V6 engines. The crossover also is expected to have all-wheel drive. Patent drawings suggest a look reminiscent of the earlier Kubang concept (pictured above). FCA explains some of Maserati's current weakness is due to problems in China. Deliveries were down 37 percent there in the second quarter, according to Automotive News, and the country's weak economy isn't expected to let up soon. Related Video:

Maserati announces the official end of its V8s

We all knew this was coming. Maserati announced it was going all-electric by 2030, so the end was definitely in sight for the V8. But now it's crystal clear. Maserati will end production of its V8s at the end of this year. The company says that there will still be some V8-powered models on sale into 2024. We're assuming that's based on inventory that may not have yet sold or been delivered by the end of 2023. Maserati will have a little something, though, to celebrate its road-going V8 history, which dates back to 1959 and its 5000 GT coupe. It will launch two special editions, the Ghibli 334 Ultima and the Levante V8 Ultima. These will be revealed in July at the Goodwood Festival of Speed. Those models will join the existing Trofeo versions of the Levante, Ghibli and Quattroporte that are on sale now, all with V8s. Maserati didn't say anything about upgrades to the V8 itself. So presumably, it will remain the familiar twin-turbo 3.8-liter V8 making 572 horsepower that is available in other trims now. Any additional changes to the special edition cars will probably be colors, trimmings and maybe handling tweaks. Even if Maserati wasn't going all-electric, the V8's days were probably numbered. The new top-dog engine is the twin-turbo 3.0-liter V6 used in the Grecale Trofeo and the MC20 supercar. In the MC20, it makes 620 horsepower; more than the V8. But of course, even that new V6's days are numbered. All of Maserati is going electric, and while the internal combustion models aren't being phased out just yet, every model has electric versions on the way under the Folgore name. That includes the mainstream models such as the new Grecale SUV as well as the sports cars including the new GranTurismo and the MC20. Those electric models aren't far away, either. Maserati's goal is to have electric versions of all its models by the end of 2025, and hybridization isn't part of the plan. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Watch the Maserati MC20 unveiling

UPDATE: You can now read all the details and see photos of the MC20 here. Maserati has been teasing its upcoming MC20 mid-engined coupe since spring, and today we finally get to see it in the flesh. Maserati will begin the livestream at 2:35 PM Eastern, and you can watch along with us in the video above. If you need a reminder of what we're looking forward to, we're expecting a two-door performance car with a twin-turbo 3.0-liter V6 mounted amidships providing about 630 horsepower and 538 pound-feet of torque. Notably, that motor comes from Maserati itself, rather than sourcing it from Ferrari. In addition to the original teasers from March and a more recent studio teaser from September 1, we've also seen some spy photos of the MC20 out in the wild. There was also a MC20 tribute to Stirling Moss, as well as a 1940 Targa Florio tribute. Check those out to get up to speed, and watch the live event with us here shortly. Maserati MC20 Teasers View 5 Photos