The luxury automaker is now bigger than the conglomerate that owns its former parent company.
According to a report from Bloomberg, Ferrari has overtaken the conglomerate (Stellantis) that owns its former parent company (Fiat) and now has a market value north of $50 billion. The luxury automaker's stock has risen 34% this year, reaching a market value of $53.9 billion, while Stellantis is currently worth $51.48 billion. Ferrari is this year's best-performing stock among European auto manufacturers, and despite uncertainty over economic conditions, it seems to have created a brand that is impervious to external factors. That trend of positive growth seems destined to continue, particularly now that orders for the Ferrari Purosangue have reopened after Maranello was forced to suspend them due to astonishing demand.
In 2022, both Ferrari and Lamborghini posted record sales. In 2023, both are expected to continue growing, thanks to several new models incoming. From Ferrari, we've already seen the Roma Spider, but there are at least three more new cars on the way. One is expected to be a hardcore version of the SF90 Stradale, another may be a replacement for the 812 Superfast, and there is talk of a LaFerrari successor being unveiled next year, likely as part of the Icona series. This run of limited-edition Ferraris is one of the key methods to the brand's continuing success, and since Ferrari went public in 2015, it has managed to produce total returns in excess of 500%.
When it was divorced from Fiat Chrysler in 2015, its market value was around $10 billion. Now, it's five times that, showing that society's affinity for luxury goods is only growing, and more and more individuals out there can afford to drop six figures on a status symbol supercar.
Ferrari periodically buys back large quantities of shares in a bid to become a privately owned entity once again. It hopes to achieve this goal by 2026, which will allow it to have more freedom. Stellantis, however, is facing different challenges. The mass-market player has recorded a downturn in deliveries over its 14 brands, reports Automotive News, so while things are going well for high-end brands and buyers, those at the other end of the spectrum are not having it quite so easy.
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