Ferrari Market Cap Hits €53 Billion, Italian Automaker Is More Valuable Than GM

Enzo created the myth that is Ferrari, but his oft-overlooked successor grew the brand into what the Prancing Horse is today. Luca di Montezemolo is the man in question, serving as the big kahuna in Maranello for a whopping 23 years. The late Sergio Marchionne did a lot for the supercar manufacturer as well, despite his initial doubt over the idea of a sport utility vehicle.
Ferrari Purosangue and May 12, 2023 market cap 12 photos
Photo: Ferrari / Google / edited
2023 Ferrari Purosangue2023 Ferrari Purosangue2023 Ferrari Purosangue2023 Ferrari Purosangue2023 Ferrari Purosangue2023 Ferrari Purosangue2023 Ferrari Purosangue2023 Ferrari Purosangue2023 Ferrari Purosangue2023 Ferrari Purosangue2023 Ferrari Purosangue
The first-ever sport utility vehicle from the Cavallino Rampante currently has a two-plus-year waitlist, and Ferrari also happens to be on the bleeding edge of plug-in hybridization with the likes of the three-motor, V8-powered SF90 series. The 296 series also deserves attention because of its twin-turbocharged V6, which outputs 654 ponies from a displacement of 3.0 liters.

Does it come as a surprise that Ferrari delivered 13,221 vehicles last year, a new record in the Italian automaker's long and illustrious history? Also worthy of asking, does it come as a surprise that Ferrari still hasn't caught up to Red Bull in Formula 1? But more importantly, can you believe that Ferrari NV has reached a market capitalization of 53 billion euros? That means $57.5 billion at current exchange rates, making the Prancing Horse more valuable than General Motors.

Think about it for a minute. A company started by Enzo to satisfy his love for all things motorsport is worth more than the biggest automaker of the Big Three in Detroit. Speaking of which, the Ford Motor Company is currently going for $47.7 billion. As for Chrysler, a.k.a. Stellantis NV after the cross-border merger with Groupe PSA (Peugeot and Citroen), that'd be $48.25 billion.

As you're well aware, Fiat Chrysler Automobiles used to own Ferrari until 2015, when the Agnelli family decided to spin it off into its own thing. Back then, when the Prancing Horse was listed on the New York Stock Exchange in October 2015, it was worth $10 billion.

Today, the single largest shareholder in the company is a Dutch holding company. Exor NV, that is, which is controlled by… wait for it… the Agnelli family. Ferrari is very transparent about the shareholders' structure, with the automaker listing Exor NV at 22.44 percent of outstanding common shares. Other big players are Trust Piero Ferrari (10.39 percent), the very controversial BlackRock (5.69 percent), and T. Rowe Price Associates (4.48 percent). Other public shareholders own 55 percent of the outstanding common shares.

Back in February 2023, when the Prancing Horse published 2022 sales and financial information, Ferrari also revealed that it's launching four new automobiles in 2023. The first came in the form of the Roma Spider, a front-engine V8 grand tourer that replaces the Portofino M. The second will soon be unveiled as the more hardcore version of the SF90 Stradale. Codenamed F173VS and referred to as Versione Special, the mid-engine V8 plug-in hybrid supercar is certain to lap Fiorano quicker than every other road-legal Fezza.

The 812-replacing F167 has recently been spied with production bodywork, which leads us to believe that its debut is due by the end of the year. As for the final entry, your guess is as good as ours. Don't expect the plug-in hybrid V6-powered F250 hypercar, though, because that one's believed to launch in late 2024.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram X (Twitter)
About the author: Mircea Panait
Mircea Panait profile photo

After a 1:43 scale model of a Ferrari 250 GTO sparked Mircea's interest for cars when he was a kid, an early internship at Top Gear sealed his career path. He's most interested in muscle cars and American trucks, but he takes a passing interest in quirky kei cars as well.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories