Ferrari Shares Beat Tesla as Higher Supercar Output Lifts Profit
- Surge has been overshadowed by Tesla’s gain in market value
- Ferrari CEO Marchionne mulling wider lineup beyond supercars
The prancing horse logo sits on the wheel hub of a Ferrari F12 Berlinetta luxury automobile, produced by Ferrari SpA, inside a Ferrari SpA dealership in Budapest, Hungary, on Tuesday, Dec. 1, 2015. Ferrari, the supercar maker being spun off from Fiat Chrysler Automobiles NV, sees profit rising as much as 7.5 percent this year after reporting a 35 percent jump in the third quarter on higher sales of cars likes the California roadster.
Photographer: Akos Stiller/BloombergWhile Tesla Inc. grabbed headlines this week by becoming America’s most valuable carmaker, it’s Ferrari NV that’s been rewarding shareholders the most lately, with a 74 percent surge in the Italian company’s stock price over the past year.
Ferrari’s gain has been driven by earnings that exceeded expectations as Chief Executive Officer Sergio Marchionne increased production of higher-margin, special-edition supercars, like the $2.1 million LaFerrari Aperta convertible. That compares with a 25 percent increase for Palo Alto, California-based Tesla, which has capitalized on investor enthusiasm for founder Elon Musk’s vision of a future dominated by electric vehicles.