Ferrari Defies Corona Crisis: German Car Manufacturers With Double the Losses of Premium Italian Brand
Since the stock market crash on 19 February, Ferrari’s stock market value has fallen by 10.2%. Over the same period, however, their German rivals’ lost significantly more in market value, as can be seen in a new infographic from Kryptoszene.de. Losses at Volkswagen and Porsche were 21.8% and 21.5% respectively.
Although the automotive industry is suffering especially acutely from the effects of the Corona crisis, Ferrari lost 1.6% points less in value than the DAX – an index which also includes companies from sectors less affected by the pandemic.
Despite this above-average performance, Google searches for “Ferrari shares” are not at a high. The Google Trend Score, which indicates relative search volume, is currently at 49, with 100 representing the greatest possible interest.
Last year the Italian premium manufacturer put 10,131 vehicles on the roads. This is 880 more cars sold than in 2018 – the highest increase in 10 years.
“Although Italy has by no means been spared by the Corona crisis, and Ferrari has correspondingly had to temporarily close many plants, the company seems to be getting off relatively lightly,” observes Kryptoszene analyst Raphael Lulay. “While Ferrari has also downgraded its forecast for the current business year, their high-margin, low unit concept seems to be working, as the figures support.”
The full story with the infographic, facts and more statistics: