Ferrari

Ferrari N.V. (pronounced [ferˈrari]) is an Italian sports car manufacturer based in Maranello. Founded by Enzo Ferrari in 1939 out of Alfa Romeo's race division as Auto Avio Costruzioni, 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.

Ferrari N.V.
Ferrari-Logo.svg
Native name
Ferrari N.V.
Type
Public
Traded as
NYSE: RACE
BIT: RACE
Industry Automotive
Founded 13 September 1939; 77 years ago in Modena, Italy (as Auto Avio Costruzioni)[1]
Founder Enzo Ferrari
Headquarters
Amsterdam, Netherlands (legal)
Maranello, Italy (de facto)
Key people
Sergio Marchionne
(Chairman and CEO)
Piero Ferrari
(Vice Chairman)
Products Sports cars
Production output
Increase 8,014 units (2016)
Revenue Increase €3.105 billion (2016)
Operating income
Increase €595 million (2016)
Net income
Increase €399 million (2016)
Total assets Decrease €3.850 billion (2016)
Total equity Increase €325 million (2016)
Owners
Exor N.V. (22.91%)
Piero Ferrari (10.00%)
general public (67.09%)
Number of employees
3,115 (2016)
Subsidiaries Ferrari S.p.A.
Scuderia Ferrari
Website ferrari.com
Footnotes / references
[2]
In 2014, Ferrari was rated the world's most powerful brand by Brand Finance.[3] In May 2012 the 1962 Ferrari 250 GTO became the most expensive car in history, selling in a private transaction for US$38.1 million to American communications magnate Craig McCaw.[4]

Fiat S.p.A. acquired 50 percent of Ferrari in 1969 and expanded its stake to 90 percent in 1988.[5] In October 2014 Fiat Chrysler Automobiles announced its intentions to separate Ferrari S.p.A. from FCA; as of the announcement FCA owned 90 percent of Ferrari.[6][7][8] The separation began in October 2015 with a restructuring that established Ferrari N.V. (a company incorporated in the Netherlands) as the new holding company of the Ferrari group and the subsequent sale by FCA of 10 percent of the shares in an IPO and concurrent listing of common shares on the New York Stock Exchange.[9] Through the remaining steps of the separation, FCA's interest in Ferrari's business was distributed to shareholders of FCA, with 10 percent continuing to be owned by Piero Ferrari.[10] The spin-off was completed on 3 January 2016.[9]

Throughout its history, the company has been noted for its continued participation in racing, especially in Formula One, where it is the most successful racing team, holding the most constructors championships (16) and having produced the highest number of winning drivers (15).[11] Ferrari road cars are generally seen as a symbol of speed, luxury and wealth.[12]