Ferrari shares hit all-time high as Lewis Hamilton signs with F1 team

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Ferrari’s shares hit an all-time high after signing Lewis Hamilton and announcing record profits in 2023. The iconic Italian marque’s shares reached US$389.45 (A$592.51) and the brand’s financial results showed a 17 per cent increase in profits. Hamilton, the seven-time F1 champion, will join Ferrari in 2025. Ferrari also delivered a record number of vehicles in 2023, including the new Purosangue SUV. However, the brand lost out to Lamborghini in Australian sales for the first time.

Brands mentioned: Ferrari, Mercedes-AMG, Lamborghini