Ferrari recalls thousands of supercars worldwide, shares dive

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A notice posted in China said the vehicles affected were the 458 Italia, 458 Speciale, 458 Speciale A, 458 Spider, 488 GTB and 488 Spider series.

| Shares in Ferrari tumbled the most in more than two weeks after the luxury sports car maker confirmed it would recall thousands of supercars due to problems with their braking system.

A China recall of that magnitude would amount to nearly every vehicle Ferrari sold in the country from 2018 through to last month, according to Bloomberg Intelligence data.Shares in the company fell as much as 3.3 per cent on the news on Friday, bringing declines for the year to 13 per cent.

 

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