They went public last week. Now Porsche has taken over Volkswagen as Europe’s most valuable car manufacturer.
Last week, the German car manufacturer Porsche went public. The introduction has gone well. So good that Porsche has taken over the position as Europe’s most valuable car manufacturer, Reuters reports. They took over the position from group sibling Volkswagen as the most valuable brand.
On Monday, you could buy the Porsche share at 81 euros, but by lunchtime today, Thursday, the share had increased to 93 euros. The car manufacturer thus has a market valuation of 85 billion euros, corresponding to 925 billion Swedish kronor. Thus, they are valued higher than Volkswagen’s 77.7 billion euros.
Mercedes-Benz is the third highest valued car manufacturer with 57.2 billion, followed by BMW with 47.5 billion and the Stellantis Group with 39.7 billion euros.
The shares bought between September 29 and October 4 represented about 11 percent of the total trading volume since the listing, a Volkswagen spokesperson said.
The newly arrived capital will come in handy for Porsche, which is about to start the electrification of, for example, the Porsche Panamera. Since before, they have been working on the development of an electric Porsche Macan, Porsche Cayenne, and the second generation Porsche Taycan.