Porsche becomes Europe’s most valuable automaker

by SpeedLux
Panamera 4 E-Hybrid

Porsche took the top position as Europe’s most valuable automaker on Thursday, after overtaking former parent Volkswagen as the price of the sportscar maker’s newly-listed shares accelerated higher.

Although Porsche shares dropped below its listing price on Monday to 81 euros, in line with a wider fall in markets, they increased to 93 euros ($91.95) at 1023 GMT, giving the sportscar brand a market valuation of 85 billion euros.

The rise pushes Porsche’s valuation higher than Volkswagen‘s 77.7 billion euros.

Mercedes-Benz comes in third among European automakers with a 57.2 billion euro valuation, followed by 47.5 billion euros and Stellantis (STLA.MI) with 39.7 billion.

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