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It has been all over the news and has also quickly become a subject for debate. How come Ferrari (NYSE: RACE) decided to jump on the same bandwagon as Porsche, Lamborghini, Rolls-Royce and Maserati, and create its first SUV? Especially after, back in 2016, chairman Sergio Marchionne painted a picture that an SUV has no place in Ferrari’s line-up?
Well, times progress and plans do change. And here we are, expecting the first Ferrari SUV to hit the market, most likely in 2022 – the Purosangue or pure-blooded in English. Although Ferrari trimmed its forecast for 2020 and its gross earnings took a substantial hit by 60% in the second quarter, the supercar manufacturer aims for a strong rebound in 2021 onwards and that’s what they are focusing on.
Ferrari’s new steps with the Purosangue have been applauded by Morgan Stanley. The investment bank has made it public that it can only see a bright future for the supercar manufacturer, with analyst Adam Jonas stating “We think Ferrari is entering a higher phase of growth and a tech transition that takes investor thinking beyond the limits of luxury goods comps… and can grow the super-luxury pie much faster (and more sustainable) than the market expects”.
At the same time, Morgan Stanley expects Ferrari’s sales to double by 2030, reaching 20,000, while by 2040, sales are expected to reach the 40,000 mark. The Purosangue is planned to add $235 million to Ferrari’s bank accounts by 2025, especially following SUV demand projections that are thought to see a 20% increase in 2030 and 50% in 2040.
And taking into consideration that SUVs consume about a quarter more energy than your average car, should more consumers turn to SUVs in the near future, these vehicles will end up being responsible for a growth in oil demand at a rate of 2 million barrels a day by 2040. Would this mean a rise in Crude oil’s price too?
Stay ahead of the news and explore potential investment opportunities with Ferrari and other automotive giants, such as Tesla, plus 190+ more Stock CFDs.
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Sources: “Forbes”, “IEA”, “TheStreet”, “FX Empire”.
Disclaimer: The Information contained in or provided from or through this marketing material is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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