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.
Italian sports-car specialist Ferrari is now the eighth most valuable automotive company by market capitalisation – the estimated worth of the company 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.
MORE: Tesla’s share price plummets, Elon Musk promises no more selling… again
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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