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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 CEO says new Alfieri will finally make Geneva in 2020

Maserati's long-delayed Alfieri will be shown at Geneva a year from now, says company CEO Harald Wester. The Alfieri will be the model to replace the GranTurismo coupe, the production of which is expected to end later this year as Maserati's Modena plant is overhauled and retooled for the new car. Autocar reports that Wester placed the Alfieri's reveal for Geneva 2020, but that series production will not begin until 2021-2022. Earlier reports had timed the Alfieri pre-production to begin in early 2020, in time for Geneva. The Maserati lineup will be significantly updated in the near future, and will feature extensive electrification, from mild hybrids to fully electric vehicles. "Any product we touch or make will have significant electrification," Wester told Autocar. "The main launches for new products are in 2021-22, and by the end of 2022 we will have a completely new range. For each and every lineup, we will have a full battery electric version. Not only that but at least one." Future models will also include updated versions of Ghibli, Quattroporte and Levante. The Alfieri was originally shown as a concept in 2014, but the delays have forced the 2008-introduced GranTurismo to soldier on. When the Alfieri finally comes, however, it will do so as a PHEV, a mild hybrid and a full electric version. Maserati is also adamant it will build electrified sports cars profitably. "Maserati is one of the few brands who can sell cars at the cost and reality of the technology and still make money," said Wester. Related Video:

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.