Ferrari

Ferrari S.p.A. is an Italian luxury sports car manufacturer based in Maranello, Italy.

Categories

Industrial Manufacturing  

#274

Rank

$58.56B

MarketCap IT

IT Italy

Country

Summary

Ferrari is an Italian luxury sports car manufacturer based in Maranello, Italy. It was founded by Enzo Ferrari in 1947, with the aim of producing high-performance race cars. Ferrari has since become one of the world's most iconic and recognizable brands, synonymous with luxury, performance, and speed.

Ferrari's vehicles are designed and built with a focus on performance and racing heritage. They are known for their sleek, aerodynamic designs and powerful engines, which are capable of reaching high speeds in a matter of seconds. Ferrari's cars are often used in competitive racing events such as Formula One, where the brand has achieved considerable success.

Ferrari produces a range of vehicles, including sports cars, GT cars, and limited-edition supercars. Its most popular models include the 488 GTB, 812 Superfast, Portofino, and Roma. Each vehicle is hand-built and customized to meet the individual needs of its owner, with a focus on delivering an exceptional driving experience.

In addition to its vehicle manufacturing, Ferrari has also expanded into other areas of luxury goods, such as clothing, accessories, and branded merchandise. The company has also launched a series of amusement parks known as Ferrari World, located in various parts of the world.

Ferrari is known for its commitment to innovation and sustainability. The company has launched several initiatives aimed at reducing its environmental impact, including the development of hybrid and electric vehicles. It is also committed to promoting diversity and inclusion within its workforce, with a focus on gender equality and promoting a culture of inclusivity.

Ferrari's success and reputation have earned it a devoted following of enthusiasts and collectors around the world. Its cars are sought after for their unique blend of performance, luxury, and exclusivity, making Ferrari one of the world's most coveted automotive brands.


History

Enzo Ferrari was not initially interested in the idea of producing road cars when he formed Scuderia Ferrari in 1929, with headquarters in Modena. Scuderia Ferrari literally means "Ferrari Stable" and is usually used to mean "Team Ferrari." Ferrari bought, prepared, and fielded Alfa Romeo racing cars for gentleman drivers, functioning as the racing division of Alfa Romeo. 

In 1933, Alfa Romeo withdrew its in-house racing team and Scuderia Ferrari took over as its works team: the Scuderia received Alfa's Grand Prix cars of the latest specifications and fielded many famous drivers such as Tazio Nuvolari and Achille Varzi. In 1938, Alfa Romeo again brought its racing operation in-house, forming Alfa Corse in Milan and hiring Enzo Ferrari as manager of the new racing department; thereby disbanding the Scuderia Ferrari. 

In September 1939, Ferrari left Alfa Romeo under the provision he would not use the Ferrari name in association with races or racing cars for at least four years. A few days later he founded Auto Avio Costruzioni, with headquarters in the facilities of the old Scuderia Ferrari. The new company ostensibly produced machine tools and aircraft accessories. In 1940, Ferrari produced a racing car – the Tipo 815, based on a Fiat platform. It was the first Ferrari car and debuted at the 1940 Mille Miglia, but due to World War II, it saw little competition. In 1943, the Ferrari factory moved to Maranello, where it has remained ever since. The Allies bombed the factory and subsequently rebuilt it, including works for road car production.

The first Ferrari-badged car was the 1947 125 S, powered by a 1.5 L V12 engine; Enzo Ferrari reluctantly built and sold his automobiles to fund Scuderia Ferrari. The Scuderia Ferrari name was resurrected to denote the factory racing cars and distinguish them from those fielded by customer teams.

In 1960, the company was restructured as a public corporation under the name SEFAC S.p. A. Early in 1969, Fiat took a 50% stake in Ferrari. An immediate result was an increase in available investment funds, and work started at once on a factory extension intended to transfer production from Fiat's Turin plant of the Ferrari-engined Fiat Dino. The new model investment further up in the Ferrari range also received a boost.

In 1988, Enzo Ferrari oversaw the launch of the Ferrari F40, the last new Ferrari launched before his death later that year. In 1989, the company was renamed Ferrari S.p.A. From 2002 to 2004, Ferrari produced the Enzo, their fastest model at the time, which was introduced and named in honour of the company's founder, Enzo Ferrari. It was to be called the F60, continuing on from the F40 and F50, but Ferrari was so pleased with it, they called it the Enzo instead. It was initially offered to loyal and recurring customers, and each of the 399 made had a price tag of $650,000. 

On 15 September 2012, 964 Ferrari cars worth over $162 million attended the Ferrari Driving Days event at Silverstone Circuit and paraded around the Silverstone Circuit setting a world record. Ferrari's former CEO and Chairman, Luca di Montezemolo, resigned from the company after 23 years and was succeeded by Amedeo Felisa finally on 3 May 2016 Amedeo resigned and was succeeded by Sergio Marchionne, CEO and Chairman of Fiat Chrysler Automobiles, Ferrari parent company. In July 2018, Marchionne was replaced by board member Louis Camilleri as CEO and by John Elkann as chairman. 

On 29 October 2014, the FCA group, resulting from the merger between manufacturers Fiat and Chrysler, announced the split of its luxury brand, Ferrari. The aim was to turn Ferrari into an independent brand, 10% of whose stake would be sold in an IPO in 2015. Ferrari officially priced its initial public offering at $52 a share after the market close on 20 October 2015. On 10 December 2020, CEO Louis Camilleri announced that he will step down as CEO and chairman John Elkann will step into the Interim CEO role until a permanent successor is selected. On 9 June 2021, the company announced the appointment of Benedetto Vigna from Geneva-based STMicroelectronics as its next CEO starting in September.


Mission

Ferrari's mission is to construct automobiles that represent the best of Italian craftsmanship, with the ultimate goal of triumphing on both the streets and the racetracks. These cars are exceptional works of art that inspire the legendary emblem of the Prancing Horse, and create a world filled with wonder, passion, and imagination.


Vision

Ferrari's vision is to be recognized as the world's leading luxury sports car brand, synonymous with innovation, performance, and timeless Italian design. 

The company aims to create exceptional driving experiences for its customers, offering them not just a car, but a lifestyle and culture centered around the Ferrari brand.


Key Team

Mr. Davide Abate (Chief Technologies and Infrastructures Officer)

Ms. Nicoletta Russo (Head of Investor Relations)

Mr. Carlo Daneo (Gen. Counsel)

Ms. Sabina Fasciolo (Chief Compliance Officer)

Mr. Charlie Turner (Chief Content & Communication Officer)

Mr. Enrico Galliera (Chief Marketing & Commercial Officer)

Mr. Michele Antoniazzi (Chief HR Officer)


Recognition and Awards
International Engine of the Year: Ferrari has won the International Engine of the Year award 29 times for its high-performance engines, including the V8 and V12 engines used in its sports cars. Red Dot Design Award: Ferrari has won several Red Dot Design Awards for its sports cars, including the Ferrari 488 GTB, Ferrari Monza SP1, and Ferrari F8 Tributo. Auto Express Driver Power Awards: Ferrari has won multiple Auto Express Driver Power Awards, including Best Brand and Best Sports Car for its cars. International Design Awards: Ferrari has won multiple International Design Awards for its sports cars, including the Ferrari 488 GTB, Ferrari Portofino, and Ferrari 458 Italia. Robb Report Best of the Best Awards: Ferrari has won multiple Robb Report Best of the Best Awards for its cars, including Best Sports Car for the Ferrari 488 GTB and Best Convertible for the Ferrari Portofino. Motor Trend Best Driver's Car: Ferrari has won multiple Motor Trend Best Driver's Car awards, including for the Ferrari 458 Italia, Ferrari 488 GTB, and Ferrari F8 Tributo. World Car of the Year: Ferrari has won the World Car of the Year award for its cars multiple times, including for the Ferrari 458 Italia, Ferrari 488 GTB, and Ferrari F8 Tributo.

Products and Services

Sports cars: Ferrari produces a range of sports cars, including the iconic 488, Portofino, F8, and SF90 Stradale models, as well as limited edition and special series cars.

Ferrari Classiche: Ferrari Classiche is a service offered by Ferrari to restore and maintain classic and vintage Ferrari cars. The service includes certification, restoration, and maintenance of classic Ferrari cars.

Ferrari Challenge: Ferrari Challenge is a racing series that allows Ferrari owners to compete against each other in specially prepared race cars. The series takes place on some of the world's most famous race tracks, including Monza, Spa-Francorchamps, and Daytona.

Ferrari Genuine: Ferrari Genuine is a range of accessories, merchandise, and lifestyle products that are designed and produced by Ferrari. The range includes clothing, watches, sunglasses, bags, and accessories, as well as a variety of Ferrari-branded products for the home and office.

Ferrari Financial Services: Ferrari Financial Services is a division of Ferrari that offers a range of financial products and services to Ferrari customers, including leasing, financing, and insurance services.

Ferrari Owners' Club: The Ferrari Owners' Club is a community of Ferrari owners and enthusiasts that provides exclusive access to Ferrari-related events, activities, and experiences.


References
Ferrari
Leadership team

Mr. Benedetto Vigna (CEO & Exec. Director)

Mr. Antonio Picca Piccon (Chief Financial Officer)

Industries

Industrial Manufacturing

Products/ Services
Automotive, Manufacturing, Transportation
Number of Employees
1,000 - 20,000
Headquarters
Maranello, Emilia-Romagna, Italy
Established
1947
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0001648416
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
RACE
Social Media

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Sat Mar 02 2024
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