autoevolution
Car video reviews:
 

Believe It Or Not, Ferrari Is More Valuable Than Ford, FCA, General Motors

As highlighted in a previous story on autoevolution, Ferrari sold 4,001 cars in 1988 – the year Enzo died at the age of 90. Sales plummeted to 2,345 in 1993, but look at the Prancing Horse nowadays. The Italian automaker outputs more than 10,000 cars per year, and this kind of volume is nothing to scoff at.
Ferrari Roma 10 photos
2020 Ferrari Roma2020 Ferrari Roma2020 Ferrari Roma2020 Ferrari Roma2020 Ferrari Roma2020 Ferrari Roma2020 Ferrari Roma2020 Ferrari Roma2020 Ferrari Roma
It’s understood that Ferrari made $94,315 on average for every car sold in 2019, the highest figure in the industry according to a report from Fiat Group World. More recently, the brand has revealed that total shipments in Q1 2020 have grown 4.9 percent over the first quarter of 2019, translating to an adjusted net profit of 166 million euros from net revenues that total 932 million euros.

Following the press conference on Monday morning, the stock market went crazy about Ferrari. Shares jumped 7 percent thanks to the strong commercial and financial performance of the first quarter, growing the company’s market capitalization to $30.1 billion before falling to $29.8 billion that very evening.

Given that General Motors was worth a little less than $29.3 billion on Monday while Ford and Fiat Chrysler Automobiles are worth $19.2 and less than $13 billion, the Italian automaker’s market cap is nothing short of amazing.

Despite a nosedive over some dubious tweets from Elon Musk, electric vehicle manufacturer Tesla is worth $142.4 billion at the time of reporting. But still, do remember that Ferrari plays in a different league from the Palo Alto-based company. The same can be said about the Big Three in Detroit also.

Ferrari further highlights that sponsorship, commercial, and brand revenues have contracted over the health crisis, and the nosedive also includes the temporary suspension of the Formula 1 season. Regarding the latter, fewer Grands Prix translate to lower revenues for the Scuderia Ferrari based in Maranello.

Going forward, the Prancing Horse says that the worst has yet to come. The second quarter of the year is likely to be the hardest for the best name in the biz, but nevertheless, Ferrari has high hopes beyond this period.

press release
 
 
 
 
 

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories