Maserati has recorded its first profit in 17 years with a €1 million trading profit for the second quarter, up from the €7 million loss it made for the same period last year. The announcement coincides with news that parent company Fiat has seen its profits double for Q2 thanks to record revenues from its new model lineup.

For the first six months of the year, Maserati has broken even but expects positive profit levels by year’s end. For the first half of ’06, Maserati reported a severe €26 million loss. In an interview with Automotive News Europe, Maserati Sales Director Raffaele Fusilli boasted that “this year, Maserati will definitely be in the black for the full year.”

Profits are up because of the introduction of new models such as the stunning GranTurismo coupe and the Quattroporte Automatica. Thanks to the new auto, sales of the Quattroporte have jumped by 39.6% in Europe and a similar story can be told for the US. Maserati is on track to see its sales reach 7,600 units this year, up from 5,600 last year.