Ferrari is an Italian luxury sports car manufacturer based in Maranello. Also founded by Enzo Ferrari in 1939 out of Alfa Romeo’s race division as Auto Avio Costruzioni. As a result, the company built its first car in 1940. However, the company’s inception as an auto manufacturer is usually recognized in 1947. When the first Ferrari-badged car was completed.
In fact, in 2014 Ferrari was rated the world’s most powerful brand by Brand Finance. Even more in June 2018, the 1964 250 GTO became the most expensive car in history, setting an all-time record selling price of $70 million.
Later on Fiat S-p-A acquired 50% of Ferrari in 1969 and expanded its stake to 90% in 1988. Further, in October 2014 Fiat Chrysler Automobiles NV (FCA) announced its intentions to separate Ferrari SpA from FCA. As of the announcement FCA owned 90% of Ferrari. Certainly, the separation began in October 2015 with a restructuring that established Ferrari NV (a company incorporated in the Netherlands). Likewise as the new holding company of the Ferrari group and the subsequent sale by FCA of 10% of the shares in an IPO and concurrent listing of common shares on the New York Stock Exchange. Besides the remaining steps of the separation, FCA’s interest in Ferrari’s business was distributed to shareholders of FCA. Also with 10% continuing to be owned by Piero Ferrari. Certainly, the spin-off was completed on 3 January 2016.
Besides its history, the company has been noted for its continued participation in racing. Especially in Formula One, where it is the oldest and most successful racing team. In fact holding the most constructors championships (16) and having produced the highest number of drivers’ championship wins (15). Ferrari road cars are generally seen as a symbol of speed, luxury and wealth.
Although the first Ferrari-badged car was the 1947 125 Sport, powered by a 1.5 L V12 engine. Thus, on March 12, Enzo took the car out for its first test-drive on the open roads. So that two examples debuted on May 11, 1947 at Piacenza racing circuit, driven by Franco Cortese and Nino Farina. Consequently this was the first time a Ferrari-badged car was entered in a race. Therefore, in 1950, Ferrari fielded racing cars in the Monaco Grand Prix, the first World Championship event held there. So José Froilán González won the first Grand Prix for Ferrari in 1951. And Alberto Ascari secured Ferrari’s first World title in 1952, a task he would repeat the following season. Afterwards in 1957 the company changed its name to Auto Costruzioni Ferrari.
The US rivals
Later on, the big V8-powered Shelby Cobra challenged the Ferraris in the early 1960s. By mid the 1960s, Ford tried to buy Ferrari but no agreement was reached. Instead, the Ford GT40 ended the dominance of Ferrari Prototypes at the 24 Hours of Le Mans in 1966. Immediately when GT-40 Mark IIs finished 1-2-3, dominated Le Mans again in 1967 in the Mark IV.
1968 – Ferrari boycott
Afterwards the performance of the big V8-powered Ford at the 1967 Le Mans, the FIA banned prototypes over 3000cc. Which also affected the 330Ps. The change was announced in late 1967 and came in effect for 1968. So for that season, the Scuderia did not take part in sports car racing in protest.
Early before in 1969, Fiat SpA 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. Although that was Intended to transfer production from Fiat’s Turin plant of the Ferrari engined Fiat Dino. New model investment further up in the Ferrari range also received a boost.
So less positive was the effect on industrial relations at Ferrari’s Maranello plant. Furthermore, in June a visiting journalist witnessed a group of workers suddenly running out of a workshop in response to the blast of a whistle: this was part of an industrial stoppage originating at the main Fiat plant in Turin, and contrasted with the relatively smooth state of production that the writer had witnessed at competitor plants nearby.
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