Porsche Beats Parent Volkswagen To Become Europe's Most Valuable Carmaker All In A Week Of Its Trading Debut

by Shivani Kumaresan, Benzinga Staff Writer

October 6, 2022 12:18 PM | 1 min read |

Porsche Automobile Holding SE POAHF has overtaken its former parent company, Volkswagen AG VWAGY, as Europe's most valuable automaker.
The shares of the newly listed luxury sports car maker shot up to €93 in Frankfurt on Thursday.
Going by the rise in shares, the sportscar brand commands a market valuation of €85 billion, Reuters reported, overtaking Volkswagen.
Also Read: Porsche With No Brakes - Shares Race Higher In Landmark Frankfurt IPO
Volkswagen has taken the second position, valued at €77.7 billion, and the third place is taken by Mercedes Benz Group AG MBGAF with a €57.2 billion valuation.
Porsche started trading in Frankfurt last week after the IPO was priced at €82.50.
Price Action: POAHF shares are trading lower by 0.16% at $59.80 on the last check Thursday.
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