A company that needs very little introduction is car maker Porsche Auto, and while it’s a well-known performance brand, it’s share price has had a more chequered history. As the Chinese middle class continues to grow, demand for higher end luxury vehicles increases and the new luxury electric vehicle Taycan from Porsche is gaining traction in this lucrative market. This is a stock trading on a single digit PE and as the world reopens and supply chains eventually get back to normal we believe it is cheap after its 27% correction, especially when compared to the likes of Tesla (TSLA US)!
MM is bullish Porsche as we look to migrate away from higher value growth
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