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

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.