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7 hours ago · Ferrari NV Chief Executive Officer Benedetto Vigna is confident the manufacturer’s first fully electric supercar can sell just as well as its roaring combustion-engine models.. The vehicle, to ...
- Enzo Ferrari Quotes On Racing: “Racing is a great mania to which one must sacrifice everything, without reticence, without hesitation.” “Second is the first of the losers.”
- Enzo Ferrari’s Quotes On Life & Philosophy: “What’s behind you doesn’t matter.” “One must keep working continuously; otherwise, one thinks of death.” “If you can dream it, you can do it.”
- Enzo Ferrari Quotes On His Cars & Passion: “Every Ferrari is a dream; a dream that never stops evolving.” “I build dreams.” “My love for beautiful cars is a disease.
- On Competition & Success: “The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it.”
Sep 19, 2023 · The iconic company, Ferrari, celebrated its 75th anniversary in 2022, a triumph of innovation, performance and prestige. FY2022 revenues were 5.1 billion euros and adjusted ebitda of 1.8 billion…
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Jan 12, 2024 · Discover the most inspiring and famous quotes by Enzo Ferrari, the founder of the iconic Ferrari car company. Explore his profound thoughts on racing, passion, dedication, and success. Get motivated by the wisdom and vision of this legendary automotive figure.
- Ferrari History I - from Racing to Manufacturing
- Ferrari History II - The Fiat Years
- Cultural and Industry Impacts of Ferrari
- Ferrari’s Impact on Racing Sports
- The Corporate Strategy of Ferrari
- Final Thoughts and Key Takeaways of Ferrari’s Story
Started as a racing team
Founded in 1929, a company, Scuderia Ferrari, was set up in Modena by Enzo Ferrari to sponsor amateur racing drivers. Racing cars were purchased, prepared, and fielded by the Scuderia. The company quickly became Alfa Romeo's technical-racing outpost and took over as its official racing department when Alfa Romeo ceased to operate its own team in 1933. Until 1938, many successful drivers were prepared and raced at Alfa Romeo. Alfa Romeo brought its racing operations in-house again in 1938, for...
The first Ferrari car
The first road-going Ferrari, the 125S model with a 1.5-liter V12 engine, was produced in 1947. The aim was to use the proceeds to support Enzo's racing team. Soon, road cars became popular as well. This was helped by the fact that the bodywork of the Ferraris was designed by famous design companies such as Pininfarina, Bertone, Ghia, and Touring. The Ferrari became a cult car among young multimillionaires, and the small production runs were quickly sold out despite the long waiting periods....
Internal issues
The strong personality of Enzo Ferrari was essential to the success of his company and his racing team Scuderia Ferrari over the years. In November 1961, internal tensions reached boiling point. Enzo’s wife was involved with the company for a long time, arguing with high managers Gardini, Tavoni, the chief engineer Carlo Chiti and the head of experimental sports car development Giotto Bizzarrini. Ferrari was issued an ultimatum, demanding in a letter that his wife be dismissed from the compan...
The Fiat acquisition
Fabbrica Italiana Automobili Torino (Italian Automobile Factory of Turin) was a holding company originally and mainly active in the automotive industry and a precursor of today's Fiat Chrysler Automobiles NV (FCA). Founded in 1899, the Italian company acquired several car brands, including Maserati, Lancia, Alfa Romeo, and Chrysler Group, until it eventually merged with the holding company that owned the Citroen and Peugeot brands to form Stellantis. Fiat S.p.A. acquired a 50% stake in Ferrar...
The separation
The separation began in October 2015 with a restructuring that established Ferrari NV as a Ferrari holding company, followed by a sale by FCA of just over 10% of its shares in an initial public offering on the New York Stock Exchange and a simultaneous listing on NASDAQ. Ferrari's FCA shares were distributed to FCA shareholders during the separation process, and Piero Ferrari retained a 10% stake. Ferrari NV and Fiat Chrysler Automobiles NV announced on January 3, 2016, that the Ferrari busin...
Key takeaway #2 - Letting loose of not-fitting divisions
The Fiat Group's intention to sell Ferrari has not surprised financial analysts, but they are only speculating about the real reasons for the breakup. Most likely, Ferrari, although it has always performed well as a jewel of the Group, proved with its completely independent operation that it did not quite fit into the concept. Sometimes these difficult decisions have to be made, to divest certain products or services to devote the necessary professional and financial resources to others.
Ferrari’s company culture
Ferrari is a company where winning is the dominant element of the culture. There is reportedly no compromise because people want to win. Employees at Ferrari are not looking at competition, as they are creating trends and pioneering innovations. The feeling of shaping the industry is not arrogance, it is sheer determination. Naturally, the company does regularly do competitor research, but competitors’ activities are not the driving force of strategy or innovation at the company. Ferrari is p...
The Ferrari logo
Ferrari's Prancing Horse logo stands for quality, performance, exclusivity, design, and uncompromised craftsmanship. But is there more to the logo than it seems at first? The story of the galloping horse dates back to 1692 when a similar emblem appeared on the flag of the army of King Victor Amadeus II of Sardinia and Piedmont. According to legend, Enzo Ferrari was visiting the parents of the famous World War I pilot Francesco Baracca when the Baroness' mother suggested that he put the same h...
The Ferrari brand in pop culture
For many Ferrari enthusiasts, their first encounter with the prancing horse is on the big screen. Movies: 1. Magnum, PI: On the show, Tom Selleck drove a now-classic Ferrari 308 GTS, and CBS had about 15 of them on hand while they filmed between 1980 and 1988. The cars were returned to Ferrari North America after filming by CBS - to be repainted and sold to new owners. 2. In the 1980s, the 308 appeared a lot on both the big and small screen, including in National Lampoon's Vacation and Cannon...
Formula One
Formula 1 is the most prestigious racing series administered by the International Automobile Federation (FIA). The Formula One World Championship is contested with open-wheel, single-seat race cars. The series consists of a series of Grand Prix races held on closed circuits or hard-surfaced street circuits designed for the purpose. Two world champions are crowned each year, one in the individual classification and one in the constructors' classification (World Team Championship). The races ar...
Le Mans 24-hour race
The 24 Hours of Le Mans is one of the oldest motor races in the world, held since 1923 at the Sarthe circuit near Le Mans, France. Originally a test of the reliability and economy of production cars, the race is still held today. The race is held every year in early June, the middle of the European summer. The field starts in the early afternoon and finishes in the early afternoon the next day. Over 24 hours, the riders cover nearly 5,000 kilometers. In 2023, Ferrari will return to the top cl...
Racing as part of the marketing strategy
Because of its narrow customer base, Ferrari has a completely different marketing strategy than other lower-end automakers. Ferrari's sports cars are not mass-produced, so there is no need for television commercials, continuous advertising, or car shows in every major city. Instead, Ferrari uses racing as its primary branding tool. The team may not have had its most successful decade, but since its debut in 1950, it has rallied a fan base of millions - most of them car enthusiasts who are the...
Production
“Despite the difficulties caused by COVID-19, which included a seven-week production suspension, the Group still delivered 9,119 cars in 2020, in line with our second-semester production plans, recorded revenues of 3.46 billion euros and delivered an EBITDA of 1.143 billion euro,” stated John Elkann, Chairman of Ferrari in the 2020 Annual Reportof the company. This is one of the most important strategic changes Ferrari has made in the last decade. Since the 1990s, in the Montezumolo era, mana...
Values pursued
1. To awaken the passion of customers and fans with technological innovation and excellence in design and craftsmanship. As part of this program, Ferrari is collaborating with several universities and start-ups to further boost its R&D performance. 2. Sustainable and superior returns to our shareholders while maintaining Ferrari's corporate governance and risk management systems in line with best practices. The Company must remain proactive in the ever-changing regulatory environment. 3. Crea...
Products strategy
Select luxury and lifestyle manufacturers and retailers are licensed to use the Ferrari brand. Ferrari also designs, sources, and sells Ferrari-branded products online and through its network of 18 company-owned and 18 franchised stores. Given Ferrari's reputation as one of the world's most recognized premium luxury brands, the company believes it is well-positioned to expand the brand's presence globally through sportswear, watches, accessories, consumer electronics, and theme parks, which w...
Growth by numbers
Key takeaways from Ferrari’s story: 1. Competition fuels innovation: Without his competitive spirit, Enzo Ferrari would have never started his own racing team, which eventually led to a special approach to building business. Ferrari’s company culture proudly embraces innovation through competition. 2. Letting loose of not-fitting divisions: After selling and re-acquiring Ferrari’s shares, again and again, Fiat ultimately decided to separate the company from its holding group. This resulted in...
Feb 1, 2024 · Ferrari NV expects earnings to rise this year, backed by a strong order book. The company’s shares rose as much as 4.7% in Milan trading, the biggest jump in about three months. The supercar ...
Feb 23, 2015 · Here's 13 of his greatest quotes. 1. "If you can dream it, you can do it." 2. "Aerodynamics are for people who can't build engines." 3. "The fact is I don't drive just to get from A to B. I enjoy ...
