Ferrari

Who founded Ferrari and how did the company begin?

Enzo Ferrari had worked as a salesman and racing driver for Alfa Romeo before establishing Scuderia Ferrari as a racing team in 1929. Initially intended to support gentleman drivers and amateur racers, the team became Alfa Romeo's unofficial racing representative following the manufacturer's withdrawal from competition in 1933, drawing on Enzo's close connections within the company. Through the mid-1930s, Scuderia Ferrari attracted some of the leading drivers of the era and accumulated a considerable number of race victories before the team was liquidated and reabsorbed into Alfa Romeo in 1937.

Enzo departed Alfa Romeo in 1939 following disagreements with senior management, using his financial settlement to establish a new company he called Auto Avio Costruzioni. The business was housed in the former Scuderia Ferrari premises, but a non-compete agreement prevented him from using the Ferrari name for four years. The company produced a single car, the Auto Avio Costruzioni 815, which entered one race before the outbreak of the Second World War brought competition to a halt.

Wartime operations and the move to Maranello

During the war years, Enzo Ferrari's company pivoted to manufacturing aircraft engines and machine tools for the Italian military. These contracts proved financially rewarding and provided the nascent organisation with substantial capital for future development.

In 1943, the threat of Allied bombing raids prompted the company to relocate its factory from its original site to Maranello. The new facility was bombed twice despite the move, yet Ferrari has remained based in Maranello ever since.

The founding of the Ferrari marque and early motorsport success

The company adopted the Ferrari name in 1945, and engineers immediately began work on a new V12 engine intended to power the 125 S, the first car to bear the Ferrari name and the basis for many subsequent models. The 125 S began racing in 1947 and recorded multiple victories during that first season alone.

Early international successes reinforced the marque's prestige: the 1949 24 Hours of Le Mans and the 1951 Carrera Panamericana were among the wins that established Ferrari as a serious automaker of the highest order. By the early 1950s, Ferrari's road cars had already become favourites of the international elite, and the company developed interconnected families of cars including the America, Monza, and 250 series. The 250 GT Coupé, which entered production in 1958, was Ferrari's first series-produced road car.

Corporate restructuring and the shift to mid-engined design

Ferrari was reorganised as a public company in 1960 and subsequently sought a manufacturing partner. Negotiations with Ford were opened in 1963 but ultimately failed; talks with Fiat proved more productive, and in 1969 Fiat acquired a 50 percent stake in Ferrari. Fiat's ownership deepened over time, and from 1963 to 2014 Ferrari operated as a Fiat subsidiary.

The late 1960s brought two models that represented a significant departure from Ferrari's established formula. The 1967 Dino 206 GT was the company's first mass-produced mid-engined road car, breaking with the longstanding practice of fitting every Ferrari road car with a front-mounted V12. The 1968 365 GTB/4 introduced a more streamlined visual language that modernised Ferrari's aesthetic. The Dino in particular pointed toward a wholesale adoption of mid-engine layouts alongside V6 and V8 powertrains in the 1970s and 1980s.

The Enzo Ferrari era concludes and the transition of ownership

Enzo Ferrari died in 1988, at which point Fiat expanded its shareholding in the company to 90 percent. The last car he personally approved, the F40, built on the flagship supercar concept first explored with the 288 GTO four years earlier.

Luca di Montezemolo succeeded Enzo as chairman in 1991 and held the role for 23 years. During his tenure, the profitability of Ferrari's road car business increased nearly tenfold, achieved by both broadening the product range and deliberately capping total production volumes. Montezemolo also oversaw a significant expansion of licensing agreements, served as chairman of Fiat proper between 2004 and 2010, and presided over a dramatic improvement in Formula One performance, partly through the appointments of Michael Schumacher and Jean Todt.

Flagship cars and the supercar lineage

Ferrari's tradition of building a definitive halo model began with the 288 GTO in 1984. The F40, approved by Enzo Ferrari himself before his death in 1988, extended that philosophy. Under Montezemolo's chairmanship three further flagship cars followed: the F50, the Enzo, and the LaFerrari.

Many of Ferrari's earlier cars from the 1950s and 1960s have achieved extraordinary results at auction, ranking among the most expensive motor cars ever sold.

Separation from Fiat Chrysler Automobiles and public ownership

Ferrari had been a subsidiary of Fiat S.p.A. from 1963 until 2014. Following Fiat's merger with Chrysler to form Fiat Chrysler Automobiles, Ferrari was spun off from that entity as a separate public company in 2016. Significant ownership of the publicly traded company is held by Piero Ferrari and by the investment holding company Exor N.V.

As of May 2023, Ferrari's market capitalisation stood at approximately US$85.5 billion, placing it among the largest car manufacturers in the world by that measure.

Scuderia Ferrari and motorsport heritage

Scuderia Ferrari has competed continuously since 1929, initially in Grand Prix racing and subsequently in Formula One since the championship's inception. It is recognised as the longest-running and most successful constructor in Formula One history, holding numerous records within the series.

Beyond Formula One, Ferrari was historically active in sports car racing from 1947 onward. Its cars accumulated victories in prominent events including the Mille Miglia, the Targa Florio, and the 24 Hours of Le Mans, and the company achieved several overall victories in the World Sportscar Championship. The passionate following that Scuderia Ferrari has built over decades is commonly referred to as the tifosi.

Brand identity and current product range

Ferrari is considered one of the world's strongest brands, projecting an image centred on racing heritage, luxury, and deliberate exclusivity. The strategy of limiting production volumes, introduced systematically under Montezemolo, has been a consistent element of that positioning.

The company's current model range spans supercars, grand tourers, and one SUV. For current pricing and model availability, the official Ferrari website should be consulted directly.

Frequently asked questions

Sources

1. Wikipedia: Ferrari — Factual basis of this entry