The sports car manufacturer is valued at a good 76 billion euros, higher than the much larger rivals Mercedes and BMW.
(Photo: dpa)
That was a brilliant start: in the first few hours of trading, the Porsche share on the stock exchange rose sharply. But then the price development was slowed down by the weak trading environment.
Nevertheless, the start shows: energy crisis or recession – the shares of the sports car manufacturer with luxury claims are also running against a rushing market.
You could probably have earned significantly more in a different stock market environment. It remains the secret of the VW Group and its dominant major shareholders Porsche and Piëch why their most valuable asset had to be put on the market now.
But even so, Porsche is valued at a good 76 billion euros, higher than the much larger rivals Mercedes at 58 billion and BMW at 47 billion. The two proud German premium providers each sell ten times more cars than the sports car group.
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Like Porsche, both deliver record results, BMW alone could achieve a net result of 15 billion euros this year. But the stock exchange does not approve of much more than the book value of BMW and Mercedes. The two big car companies are being treated as if they had no future from tomorrow.
Porsche used to take Tesla seriously
That’s definitely an exaggeration. But expectations are traded on the stock exchange and investors are betting on luxury and electronics. Here, Porsche has been more consistent than its rivals in recent years. In 2018, Porsche announced that it was phasing out diesel technology, and in 2019, the Taycan, the first serious German Tesla competitor, rolled off the assembly line.
BMW and Mercedes are only now beginning to produce attractive electric cars in relevant quantities, but they will have to live on combustion engines for a long time to come.
BMW and Mercedes have extensive transformation plans towards electromobility. These must now be backed up with models and increasing sales. Only then will the two car companies be rated higher again – record results or not.