Volkswagen holds keys to Porsche's race against Ferrari [Reuters]
PORSCHE AUTOMBL UNSP/ADR (POAHY)
NASDAQ:AMEX Investor Relations:
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Source: Reuters
owner, Volkswagen, is prepared to take a step back, giving the German sports car maker more freedom to cut costs and shape its future. The maker of the iconic 911 has started the seventh quarter since its listing with a discount to Ferrari (RACE.MI) New Tab , opens new tab on a price-to-earnings (PE) basis just off a record 69%, disappointing hopes it could command a luxury-like valuation. 2024 is shaping up to be a transition year, as Porsche AG (P911_p.DE) New Tab , opens new tab launches several new models, keeping a lid on margins ahead of a more promising 2025 for the company that is 75.4% owned by Volkswagen (VOWG_p.DE) New Tab , opens new tab That may deter fast-money investors from looking too closely at its shares, just as EV competition from China is heating up. But more patient portfolio managers are eyeing fatter returns further down the road. Securing more autonomy from Volkswagen could be key, some analysts and money managers say, particularly if that addre
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