A car brand that has been notably efficient for setting the new standards in the automobile sector is Ferrari.
Ferrari has been a dream car for all car and auto-tech lovers. It is an eventful, sports car that truly defines the beauty and mindfulness of the car designers while giving an eye-catching look.
The company was officially launched in 1947 by the legendary founder Enzo Ferrari. Enzo was born in 1897 in Modena, Italy. In the year 1920, he was a race car driver for the Alfa Romeo and won tons of racing awards. 1929 was the year where the craze for sporty cars and the craze for car racing activities recorded a sudden acceleration, and in the same year, Ferrari endowed the SCUDERIA Ferrari, which is now emerged as the official race car division for Ferrari.
In 1931 Enzo’s concern grew towards his family and he, therefore, wanted to devote more of his time towards his family as a result of which, he decided to end up with SCUDERIA and ALFA, but he continued it till 1939. He then resigned from his head position in Alfa to build his own Auto Avio Costruzioni in his hometown of Modena, Italy. As per an agreement, he was not supposed to use the name Ferrari for his cars for at least four more upcoming years.
In 1945, the first car to cap the name was launched as Ferrari 125 s with a V12 engine. The situation of World War II forced the factory to shift from its place as the factory in Modena was struck by bombs. This was followed by the setting up of the legendary factory in Maralleno.
Ferrari was now ruling the world and was an eminent car for two to three decades. It won the formula one championship in 1957, Mille Miglia (1948), and the Le Mans 24 Hour Race (1949). The years 1956 and 1961 were two difficult years for the company. In the year 1956, Enzo’s elder son Dino passed away, and in 1961 two members of the company including, chief engineers Carlo Chiti and Giotto Bizzarrini left the company. The two went on to form another auto company called ATS.
In 1960, Enzo thought of including a partner in the business, thus, making Ferrari from sole ownership to a partnership business setup. Due to this thought and decision of the owner, the Fiat group with an amount of 50% of its stake joined with the brand. In the corresponding year, the model F40 of Ferrari was launched and subsequently was the last one under Enzo, as he passed away at the age of 90, after which the Fiat group increased its stake in the business to 90%.
After Enzo’s death, Luca di Montezemolo was appointed as the new chairman of the brand in 1991. Ferrari was run under the leadership and decision-making controls of Luca di Montezemolo until October 2014. He was later, replaced by the current Chief Executive Officer, Sergio Marchionne. Sergio introduced notable plans, one of the most important and fruitful plans was to separate Ferrari from the Fiat.
In 2015, the Ferrari N.V. filed its Initial Public Offering also known as, an IPO and launched it in the New York Stock Exchange at the valuation of nearly $10 billion, along with approximately the same valuation at the Milan Stock Exchange in the year 2016.
Here is a timeline of one of the most eventful occurrences of the business empire
1947- Ferrari introduced its first-ever sports prototype cars the 125 S and 159 S.
1948- This year the first-ever Gran Turismo, 166 Inter was launched along with 166 S, 166 Inter Sport, and 166 MM.
1953- It took a massive production jump and launched 8 cars for the first time in an annual year, including, 250 Europa, 375 MM, 375 America, 250 MM, 340 MM, 625 TF, 735 S, and 500 Mondial.
1956 and 1961- Despite being tough years, the company managed to launch 23 new cars among the years while producing 7 and 1 new model respectively. The company`s classic red color became the talk of the town.
1972-1979- Ferrari launched not more than 1-2 car models every year.
1982 – The brand introduced 4 lavish Gran Turismo, namely, 208 GTB Turbo, Mondial Quattrovalvole, 308 GTB Quattrovalvole and 308 GTS Quattrovalvole.
1986-1996- The company sold most of its cars in its classic red color.
2000- The company launched 2 new Gran Turismo (360 Spider and 550 Barchetta Pininfarina) and 1 new sports prototype, the 360 Challenge.
2015- 2016 – Ferrari launched 7 cars while registering itself to Stock Exchange and introducing its IPO.
2019- Current – Ferrari’s latest drop was the SF90 Stradale while the296 GTB is eyeing for a release in the year 2022. Ferrari eyes the IGTC Title as they believe that is the only loral that is missing in their basket full of loral and winnings. A pair of Ferrari 488 GT3 Evos for the IGTC honors. Ferrari as of now is leading the IGTC Driver`s rankings but is next to second in the standings of the Manufacturer`s points of Spa which is led by Audi as of now.
Ferrari is not just widely recognized for producing the best sporty and luxurious cars all across the globe but is also widely acclaimed for its symbol CAVALLINO RAMPANTE or the prancing horse. The brand is renowned and considerably trendy for its red color variant as the red color was part of the tradition. The Red color had become so popular over the years, that in the 1960s approximately 85% of the car owners were having this color variant of the car.
In the year 2010, Ferrari established its theme park located on Yas Islands of Abu Dhabi, United Arab Emirates. The theme park offers shopping zones, the biggest roller coasters of the world, family and children-friendly rides, along with shows featuring acrobats and optical illusions.
This was all about how the Ferrari company has evolved and has duly emerged as one of the biggest car brands in the world.
Edited by Anupama Roy