Fiat to rev up Ferrari’s engines
Ferrari’s upcoming stock listing might struggle for investor attention with competitors in its own ranks.
Buying one of the Italian supercars, like a Testarossa from the 1980s, has served up gains that are hard to beat.
Vintage Ferraris have surged nearly sevenfold in value since 2006, according to the Hagerty Price Guide Index of Ferraris, which pools prices of 13 of the most sought-after models from the 1950s to the 1970s. Even newer cars have almost doubled over the past 12 months.
This performance could be tough for Ferrari’s stock to match when Fiat Chrysler lists a 10% stake in an initial public offering in the coming months.
Fiat is hoping to reap about $5 billion (R63.09 billion) from spinning off its supercar division to help fund a $53 billion investment programme that focuses on expanding the Jeep, Alfa Romeo and Maserati brands globally.