Ferrari’s are one of the most expensive cars in the world, even when you buy a used Ferrari. So what is the history behind this popular car, and why does it continue to do so well, year on year?
The company was founded in 1929 by Enzo Ferrari. Originally called Scuderia Ferrari, the company built racing cars and sponsored drivers, until it branched into street cars in 1947, which it called Ferrari S.p.A. However Ferrari has always stayed true to its roots, and still manufactures high quality racing cars for Formula One today. Many of its street cars have a sports car look and feel, taking us back again to the origins of the Ferrari company.
During the second world war the company moved to Maranello, where it was bombed to the ground and rebuilt in 1946. The first Ferrari motor car it produced was the 125 Sport.
Enzo Ferrari himself was an unusual character. He first discovered a love for motor racing at the age of ten, when his father (who owned a metal business) took him to see a car race. In his professional years, Enzo was said to have been widely known for his attitude of dislike towards Ferrari customers. He thought that the sort of people who were buying Ferraris were doing so just to flash their money about and get the prestige of having one, rather than truly appreciating their performance value and their racing car roots. Despite this, Ferrari gained a reputation for manufacturing excellent quality cars with fantastic performance, and sales have increased year on year. Between 1999 and 2008, sales of Ferraris have doubled, from 3,000 sold annually, rising to over 6,000. This goes to show that the Ferrari, although an exclusive car and expensive both new and used, is still popular and well received by the modern public.
Since 2006, the Ferrari company is 56% owned by the Fiat Group. Other owners include Mediobanca, who own 29 %, Piero Ferrari, who owns 10% and Mubdala who owns 5%.
The traditional yellow shield of Ferrari, with it’s black horse and band of Italian national colours, reminds us of Enzo’s passion for racing. Ferrari has participated in many Formula One events, with great success and opportunities for marketing. When you think of Formula One, the car that is likely to spring to mind is a Ferrari. This is proof that the years of supporting the racing industries have aided Ferrari greatly in giving us that association in our minds.
There are lots of different models of Ferraris, with new ones being brought out all the time. We can look forward to seeing a brand new model of Ferrari this summer in fact, 2010. Ferrari is a car that has been used as a symbol of power and wealth, and it is commonly used in the media, in films for example, to put this association across. Whether you want a new or used Ferrari, you are buying into an exclusive club of luxury and superiority.
