Ferrari Zooms On Despite Coronavirus With Demand Exceeding Supply

Monte Carlo, Monaco - April 17, 2014: Red Ferrari LaFerrari driving down the streets, passing the people in Monaco
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It appears COVID-19 is no match for car lovers across the globe with Italian luxury sports car maker Ferrari’s sales proving rather buoyant amid the coronavirus downturn.

Since March 23, Ferrari stock has risen over 21 per cent, with its stock up 12 per cent in the last week, outdoing the benchmark index.

Interestingly, automotive makers like Ford and General Motors in the US have seen their shares plummet, 43 per cent and 36 per cent respectively. In comparison, Ferrari has dropped less than seven per cent this year.

JPMorgan analyst Ryan Brinkman told Forbes that demand for Ferrari cars currently outstrip supply, with customers sometimes needing to wait a year or more for delivery.

Ferrari is also well-positioned to weather the coronavirus economic downfall due to its large earnings growth in the last few years and a consistent base of well-to-do clientele.

IMI research analyst Monico Bosio said: “The group’s positioning, its more than solid order intake, capability in managing deliveries and waiting lists, and its structural strong commitment in prioritizing margins and [future cash flow] on revenues guarantees a higher resilience and better protection to the current challenging scenario.

 

 

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