Report published September 3, 2026
Ferrari Residual Value Tracker: Global Index Turns Positive for the First Time Since Jan-25
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- September 3, 2026
- Analysis as of
- August 31, 2026
Authors / editors: Christian Frenes, Robert Triulzi, Monika Mengting Liu, CFA, Shivam Kotecha
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
The GS Ferrari Residual Value Index turned positive (+2.25%) in August 2026 for the first time since tracking began in January 2025, surging +5.8% month-over-month. Strong US collector demand for legacy non-hybrid V8/V12 models continues to drive residual value outperformance relative to peers, reinforcing Goldman Sachs' Buy rating (€407/$472 PT).
Key Takeaways
- 1.The GS Ferrari Residual Value Index turned positive (+2.25%) in August 2026 for the first time since systematic tracking began in January 2025, rising +5.8% month-over-month and +13.8% year-over-year.
- 2.The recovery is heavily driven by exceptional US collector demand for legacy non-hybrid V8 and V12 models, which list at a 36% and 30% premium respectively over the rest of the world.
- 3.The powertrain divergence continues to widen across luxury brands: Ferrari non-hybrids have risen +16.4% since Jan-2025 while hybrids have dropped -13.1%, with hybrid weakness also prevalent among peers such as Bentley and McLaren.
Table of Contents
- Global Index turns positive for the first time since Jan-25; US market outperforms led by exceptional pre-hybrid V8/V12 performance
- Strong US legacy V8/V12 demand drives US and overall index recovery, while the hybrid gap widens further
- Luxury Competitor Benchmarking: Ferrari outperforms luxury peers on residual value pricing while hybrid weakness not unique to Ferrari
- Thesis, Estimates, Valuation & Key risks
- Appendix: Luxury RV Tracker methodology
- Disclosure Appendix
Report data
Exhibit 1: Recent months have seen a strong recovery in residual values since we started tracking in Jan-25... — as of August 31, 2026.
| Metric | Estimate | Context |
|---|---|---|
| GS Ferrari Residual Value Index level | 102.25 index_points | Marks the global index turning positive (+2.25% vs Jan-25 base) for the first time. |
| US Residual List Price Change | 10.0% | US clearly outperforming driven by strong mix and increasing underlying list prices. |
| Ferrari Non-Hybrid RV Performance Since Inception | 16.4% | Divergence vs hybrid models which fell -13.1% over the same timeframe. |
| Ferrari Cross-Brand Residual Value Index | 114.3 index_points | Indexed to Apr-26=100; leads peers Lamborghini (108.7), Rolls-Royce (104.6), Bentley (103.2), Aston Martin (102.2), and McLaren (96.1). |
| Ferrari 12-Month Target Price | 407.0 EUR | Based on a 35x P/E multiple on 2027/28E EPS of €11.64; US target is $472. |
Reports in this series
Ferrari Residual Value Tracker is shown in chronological order through this edition, published on September 3, 2026.
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Authors / Editors
Reported Data Context
- GS Ferrari Residual Value Index level: 102.25 index_points (2026-08) · Source: Ferrari.com, Goldman Sachs Global Investment Research
- US Residual List Price Change: 10.0 % (2026-08) · Source: Ferrari.com, Goldman Sachs Global Investment Research
- Ferrari Non-Hybrid RV Performance Since Inception: 16.4 % (2025-01 to 2026-08) · Source: Ferrari.com, Goldman Sachs Global Investment Research
- Ferrari Cross-Brand Residual Value Index: 114.3 index_points (2026-08) · Source: Company websites, Goldman Sachs Global Investment Research
- Ferrari 12-Month Target Price: 407.0 EUR (12-month forward) · Source: Goldman Sachs Global Investment Research
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