Porsche Overtakes Volkswagen as Europe’s Most Valuable Carmaker

Porsche Overtakes Volkswagen as Europe’s Most Valuable Carmaker
Cars of German manufacturer Porsche outside the stock exchange prior to Porsche's IPO in Frankfurt, Germany, on Sept. 29, 2022. Kai Pfaffenbach/Reuters
Reuters
Updated:

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

Although Porsche shares had fallen below its listing price on Monday to 81 euros, in line with a wider fall in markets, they rose to 93 euros ($91.95) earlier on Thursday, giving the sportscar brand a market valuation of 85 billion euros.