In case you hadn't noticed, Ferrari is not a struggling car company right now. In the face of a global economic downturn, the Italian automaker's cars remain in high demand, with shipments in Q2 of this year up by 28.7% compared to the same period last year and record revenues reported over the same period.

These feats were accomplished before the Purosangue SUV even went on sale, and a prominent public listing a few years ago proved that Ferrari is a luxury business, not just a supercar manufacturer. The cumulative effect of these results is that Morgan Stanley analysts have come out and said that Ferrari is as "recession proof as it gets" right now, and a safer bet than most for investors.

Other analysts including Adam Jonas echoed similar sentiments, and this has created a lot of attention around the luxury sector in light of Porsche's long-awaited IPO. As per Bloomberg, Morgan Stanley's latest positive assessment of Ferrari includes the new Purosangue, with the analysts raising their earnings-per-share estimates for the Maranello-based carmaker by between 7% to 10% for the 2023-2025 fiscal years.

Shortly following its reveal, Ferrari has already said that it is struggling to keep up with high demand for the new Purosangue, a vehicle with a price tag of around $400,000. Such is the demand that Ferrari said it may close order books of the Purosangue soon, especially since it wants to keep volumes low to retain exclusivity.

During its lifecycle, the Purosangue is only expected to make up about 20% of all Ferrari sales. This is in stark contrast to Lamborghini, which sells far more Urus SUV models than it does supercars, as well as Porsche with its popular Cayenne and Macan SUVs.

Essentially, Ferrari is not chasing insane profits with the Purosangue and it doesn't want to dramatically increase sales volumes. It doesn't need to when its net profit per car sold works out to about $90,000 to $110,000. Last year, Ferrari sold 11,155 vehicles, so you do the math.

Regarding shares of Ferrari, some analysts have said that demand at Porsche is more cyclical than at Ferrari. In both cases, though, luxury shares are viewed positively since the resilience of spending among the wealthiest individuals remains high.

Porsche will be hoping that its performance on the stock market follows in the footsteps of Ferrari, not Aston Martin - merely being a luxury automaker isn't a guarantee of success. With its IPO, Porsche is positioned to become the fourth most valuable automaker after Volkswagen, Tesla, and Toyota. But Porsche's expected jump up the ranks is unlikely to bother Ferrari which is sticking to a formula that will continue reaping rewards for investors.