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The popularity of Ferrari's first SUV has powered the company to new heights, making it more valuable than Ford and General Motors, despite selling a fraction of their volume in cars.
08:3014 May 2023
Italian sports-car specialist Ferrari is now the eighth most valuable automotive company by market capitalisation – the estimated worth of the firm according to stock market analysts.
According to a report from Automotive News Europe, Ferrari has overtaken Stellantis – the parent company of 14 car companies including Alfa Romeo, Citroen, Fiat, Jeep, Peugeot, Ram, and Vauxhall – despite building fewer than 14,000 vehicles in 2022.
In comparison, Stellantis built an estimated 8 million cars last year across 14 brands – one of which, Fiat, previously held a large stake in Ferrari.
By market capitalisation – the total value of a company on the share market – Ferrari is currently in eighth position ahead of the Stellantis conglomerate, Ford, Honda, General Motors, and Hyundai.
US electric-car specialist Tesla is the most valuable car company by market capitalisation, with Toyota – the largest automaker by sales – in second place, and Porsche in third.
BYD, Mercedes-Benz, Volkswagen, and BMW are all considered more valuable than Ferrari, according to market capitalisation comparisons.
Among European car companies, Ferrari is the best-performing stock, with its shares having gained 34 per cent in 2023.
Ferrari's most recent success has been put down to the Purosangue – its first SUV, which was so popular following its unveiling in September, orders were closed within two months of the car's release.
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Journalist
Ben Zachariah is an experienced writer and motoring journalist from Melbourne, having worked in the automotive industry for more than two decades. Ben began writing professionally more than 15 years ago and was previously an interstate truck driver. He completed his MBA in Finance in early 2021 and is considered an expert on classic car investment.
