Ferrari NV, known as a manufacturer of luxury cars, said that the interest in their production has increased significantly in this year 2023 and the waiting periods for their cars are already reaching several years, with the age of a third of the buyers already falling below the age limit of 40 years. Despite a three-year waiting list for some of the automaker’s production cars, the Ferrari CEO said the company has no plans to overstock production to meet demand. “We are a brand that does not look for volume,” said Ferrari CEO Vigna Benedetto.
Ferrari NV is an Italian designer, manufacturer and retailer of sports cars based in the Netherlands and operating under the world-famous Ferrari brand. The portfolio of sports cars includes, among others, the F12berlinetta, FF, Ferrari 488 GTB, 488 Spider, 458 Speciale, Ferrari California T, F12tdf and LaFerrari. The company also offers financial services through Ferrari Financial Services and also produces limited series and one-off cars, which can thus be described as one-off productions made to order for a specific customer. The company divides its regional markets into EMEA (Europe, Middle East, India and Africa), North and South America, Greater China and the rest of APAC (Asia Pacific, excluding Greater China). Ferrari NV is also active in more than 60 markets worldwide through its network of authorized dealers. Ferrari NV, after several preparations, finally entered the public stock market with its shares in 2015, where its shares are still listed today on two markets, both domestically in Italy and on the main world stock market on New York’s Wall Street through the NYSE (New York Stock Exchange) under the name RACE.
Shares of Ferrari NV (NYSE-RACE) traded on the public stock market for the first time on October 20, 2015, with an initial public offering price in the range of $48-$52 per share and during its first week of trading on the NYSE – RACE even moved with its decline to the price limit of around USD 30 per share. Analysts of brokerage companies and financial strategists of the stock market, however, already stated in November 2015 that the RACE share is a highly attractive investment, with the fact that these shares represent a several-fold increase in their price. Currently, less than eight years later, the investment bankers have to prove these analysts right because on yesterday’s trading day, August 22, 2023, on the NYSE (New York Stock Exchange), these RACE shares closed at a value of USD 310.56 per share. This price difference over the mentioned almost 8 years thus represents a roughly 10-fold appreciation of investing in the shares of Ferrari NV (NYSE-RACE). The interest of customers in the production of this company thus logically aroused the interest of investors in the shares of NYSE-RACE, whose value has increased by + 44.97% of its previous price at the end of 2022 since the beginning of this year 2023.
Last year 2022, Ferrari NV produced 13,221 cars, up 18.5% from the previous year in 2021, and demand continues to significantly outstrip supply, with the new Purosangue SUV and other Ferrari models now expected, according to dealers and auto market experts about three years or even a little longer. Many buyers say they can’t even get on the waiting list for their dream car because there just isn’t enough production. The founder of this world-famous brand, according to his name, Mr. Enzo Ferrari, famously said years ago that Ferrari will produce “one car less than the market demand” and this marketing trick is practically successful to this day, but today’s deficit is much larger, some analysts say the company could easily sell twice as many cars as it makes. Ferrari is building a new factory for its hybrid and electric vehicles, but it’s unclear how much the company will increase production, economic reporters said. NYSE-RACE has set an average target price of $343 per share, with an upper bound of this predicted price in the medium term, which could reach a price of up to $380 per share, according to brokerage firm analysts.
