Ferrari stock slides as China deliveries hit roadblock
Published On Nov 5, 2024, 12:16 PM
Ferrari's stock fell over 7% following a report of declining deliveries in the third quarter, particularly a notable 22% drop in shipments to China, a crucial market for luxury vehicles. Despite this decline, Ferrari's overall revenue increased by 7% to €1.64 billion, and the company reaffirmed its full-year guidance, expecting strong sales in the fourth quarter to compensate for current losses. Analysts remain divided, with some maintaining optimistic views on Ferrari's brand strength and product offerings.
Stock Forecasts
RACE
Negative
The significant reliance on market performance, especially in China, poses risks for Ferrari's stock, especially with the decline in deliveries. However, the reaffirmation of guidance and potential increases in other markets could offset short-term negatives.
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