Ferrari now has a higher value on the Milan stock market than its former parent company Stellantis. The Italian sports car maker’s share price increased 34 percent this year to make the business worth $53.9 billion. Meanwhile, Stellantis has an assessment of $51.48 billion, according to Automotive News Europe.
FCA (now Stellantis) spun off Ferrari in 2015 and registered it on the stock exchanges in New York and Milan. The initial public offering price was $52 a share. As of this story’s publication, the stock now costs $295.73 a share.
Stellantis is currently $16.22 a share.
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Ferrari posted a record 13,221 vehicle deliveries, which was up from moving 11,155 models in 2021. Net profits of the equivalent of $1.024 billion (939 million euros) were also higher than ever after posting a figure of $909 million (833 million euros) last year. At the time, the Italian sports car maker predicted 2023 was going to have even better business with estimated net revenues of $6.224 billion (5.7 billion euros).
For the first quarter of 2023, Ferrari delivered 3,457 vehicles, which was 9.7 percent better than the same period in 2022. The automaker reports that its order books are full enough that it needs until 2025 to fulfill the demand.
Ferrari will introduce three models before the end of the year. One will reportedly be a track-focused version of the SF90 Stradale. Another will allegedly be a replacement for the 812 Superfast.
The Ferrari Roma Spider (pictured above) debuted earlier this year with a retractable soft top. It is replacing the Portofino M in the brand’s lineup. Power comes from a twin-turbo 3.9-liter V8 making 612 horsepower and 561 pound-feet. The car can reach 62 miles per hour in 3.4 seconds.
Meanwhile, Stellantis is the world’s fourth-largest automaker. It operates 14 brands including Fiat, Jeep, Peugeot, Citroen, and Ram. Among all those marques, the automaker sold 5.84 million vehicles in 2022.
