Skip to main content

Want to own a piece of Ferrari? Carmaker raises $893 million in first day of trading

Image used with permission by copyright holder
Ferrari vehicles are expensive, but now, you can buy your very own piece of the company, albeit a small one.

On Wednesday, Ferrari officially entered the stock market with its Initial Public Offering (IPO), releasing some 17.2 million shares — roughly 9 percent of the company — into the New York Stock Exchange. Trading under the appropriate ticker symbol “RACE” (“RED” was apparently taken), the Italian brand’s shares were initially valued at $52 each, but debuted at $60 before settling down to roughly $55 at the end of the first day. Added up, the Ferrari nameplate is now worth just under $10 billion, despite delivering just 7,255 cars last year. In comparison, Porsche shipped nearly 189,850 vehicles to customers in 2014.

Why the stock market? Simply put, Ferrari’s parent company Fiat Chrysler Automobiles (FCA) needs the money for its revitalization plan, and thus the IPO was successful in raising $893 million for the cause. FCA now owns roughly 80 percent of the brand with the Ferrari family owning 10 percent and the public rounding out the rest.

As you would expect from the prancing horse, the event was quite the spectacle. Wall Street went from grey to red as Ferrari vehicles littered the area on trading day, including the new 488 GTB, a classic 1961 SWB, a Formula One competition car, and of course, the LaFerrari. FCA vehicles such as the Dodge Challenger and Chrysler 200 also made an appearance.

The Maranello-based automaker is and always has been an exclusive outfit, but the manufacturer hopes to boost out to 9,000 cars a year by 2019. One way to do that is to diversify your portfolio, and Ferrari has just announced a new model called the F12tdf. With 780 horsepower on tap, the limited-edition vehicle blurs the line between race car and road car, and you can read more about it here.

Andrew Hard
Former Digital Trends Contributor
Andrew first started writing in middle school and hasn't put the pen down since. Whether it's technology, music, sports, or…
Waymo robotaxi attacked and set on fire in San Francisco
Waymo Jaguar I-Pace electric SUV

A Waymo self-driving car was set upon by vandals in San Francisco on Saturday evening.

According to footage and eyewitness reports of the incident, the attackers graffitied the car before smashing its windows and throwing fireworks inside. The vehicle then caught fire and burned before fire crews arrived to extinguish the blaze.

Read more
Honda’s electric SUV is coming soon. Here’s what we know about the 2024 Prologue
2024 Honda Prologue Front

Slowly, but surely, every large car company is getting on board with electric cars. While most of them have released at least one electric model so far, some are still readying their first.

Did you know, however, that Honda is not one of those latter companies? The Honda Clarity was taken off the market a few years ago, and finally, it now looks like Honda is preparing to launch its first of a new generation of electric cars -- the 2024 Honda Prologue SUV.

Read more
Chrysler Halcyon concept is a return to glory for the minivan brand
Profile view of the Chrysler Halcyon concept with its doors open.

Chrysler plans to launch its first EV in 2025, but the foundational brand of automotive conglomerate Stellantis may be taking a detour on the road toward that goal. In 2022, Chrysler showed the Airflow, a concept car reportedly previewing that first production EV. But now the brand has a new EV concept dubbed the Halcyon.

Where the Airflow was a handsome but sensible crossover SUV, the Halcyon is a bit more fanciful. The low-slung four-door looks like Chrysler's attempt to clone the Porsche Taycan. It's even got front-fender air outlets like the Porsche, part of an aerodynamic package that includes a sliding rear diffuser and a rear spoiler. It's all meant to minimize aerodynamic drag and improve range. An air suspension system can also adjust to further enhance efficiency, or improve driving dynamics, according to Chrysler.

Read more