3 Reasons Ferrari Stock Is a Buy Now
You wouldn't know the automotive industry had a bumpy year with rising interest rates and supply chain issues by looking at Ferrari's (NYSE: RACE) full-year results. The luxury supercar manufacturer turned in a record 2022 with growing demand and an order book that paves the way for an even stronger 2023. Shipments, net revenue, and EBITDA all grew by double-digit percentages compared to the prior year.
Here are three reasons Ferrari should continue to be one of the most attractive automotive stocks even as the industry rapidly evolves.
Ironically, because Ferrari focuses on exclusivity and an ultra-luxury niche market, the automaker is one of the few that could adapt more slowly to a changing automotive industry that's gearing up for a future of electric vehicles (EVs).
Source Fool.com
