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Ferrari Is Laughing At Ford And GM Right Now
May. 05, 2020 8:30 AM ET by Jay Traugott Supercars / 16 Comments All the way to the bank. Ferrari has been one of the most powerful global brands for years, a ranking that includes all brands, not just automotive. And despite everything happening in the world today, Ferrari remains in an amazing position. The numbers speak for themselves. CNBC points out that following Ferrari's share price surging 7 percent this past Monday, the Italian supercar company is now worth about $30 billion. To compare, General Motors market cap fell to less than $29.3 billion while Ford's dropped to $19.2 billion. Fiat Chrysler, which spun out Ferrari back in 2013, is now worth about $13 billion. Even though it was forced to shut its factory in March, Ferrari's overall revenue dropped by only 1 percent. Impressive. Meanwhile, demand for its vehicles remains as high as ever, though its Formula 1 racing program has been facing some financial difficulties. Ferrari Ferrari Ferrari Ferrari Ironically, racing was where founder Enzo Ferrari was most focused with the road car division established as a way to earn money to pay for F1 and endurance racing, such as at Le Mans. At the moment, Ferrari builds only around 10,000 vehicles per year, priced between over $200,000 and $1 million. Because of this, profit margins of 24 percent have been achieved. For most other automakers, that figure is less than 5 percent. Also impressive is even though the company has seen some cancellations from customers who previously ordered cars, such as the Ferrari F8 Tributo and all-new Ferrari SF90 Stradale, it's not concerned about any serious disruptions. Ferrari Ferrari Ferrari New car sales across the globe have dropped in every country over the past several weeks, but Ferrari remains confident its order books will be packed again very soon. By the end of this year, Ferrari projects it'll have between 100 million and 200 million euros in free cash flow. This may sound like a lot (it is), but compared to last year that number hit 400 million euros. Because of Ferrari's long-time brand strength, it has been able to weather the storm with relative ease compared to Detroit's big automakers. Ferrari Ferrari Ferrari Ferrari Source Credits: CNBC Join The Discussion
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