The luxury automobile industry is poised to grow in the coming years, driven by investment in technical modifications and increased consumer interest. Both Ferrari (NYSE:) and Porsche (POAHY) are well-established players in the luxury auto market and should benefit from the increased demand. But which of these stocks is a better buy now? Keep reading to find out.Ferrari N.V. (RACE) in Maranello, Italy, is a well-known brand in the automobile industry that designs , engineers, and sells luxury performance sports cars. The company offers sports, GT, special series cars; limited edition hypercars; one-off and track cars; and Icona cars. Porsche Automobil Holding SE (POAHY) in Stuttgart, Germany, is another well-known name operating through two segments, PSE and Intelligent Transport Systems.
Rising disposable income has led to increased demand for luxury cars over the past decade. As countries emerge from the pandemic-driven recession, the demand for luxury cars should rebound quickly. The global luxury cars market is projected to reach $655 billion by the end of 2027, exhibiting a 9.3% CAGR.
Large-scale luxury car manufacturers’ heavy investments in enhancing comfort and quality should drive the industry’s growth. Both RACE and POAHY are major players in the industry with significant market share.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.