Movement Alert｜Ferrari Falls 3.02% in Regular Trading, Auto Sector Under Pressure as China Sales Drop Over 50%

Market Focus07-08

On July 8, Ferrari fell 3.02% in regular trading, trading at $375.19/share, with turnover of $39.49 million.

On the news front, the automobile manufacturing sector broadly weakened, with Tesla down 2.3%, Rivian down 2.97%, Ford down 1.0%, General Motors down 1.01%, and Stellantis down 4.16%. Concurrently, Ferrari's global marketing director publicly addressed competition from Chinese automakers, disclosing that Ferrari's China market sales plunged from 1,221 units to 584 units, a decline exceeding 50%, sparking concerns over the company's Asia-Pacific growth outlook.

While multiple investment banks including UBS, Morgan Stanley, and Bank of America have recently raised Ferrari's target price and ratings — with UBS lifting its target to $497 from $483 while maintaining a Buy rating — short-term sector sentiment weakness combined with the sharp deterioration in China market performance weighed on share price. Ferrari's next earnings report is scheduled for July 30, with consensus EPS expected at $2.83.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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