Ferrari Ipo Price Range

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This article is about the automobile manufacturer. For the 2003 biographical film, see Ferrari (film). For other uses, see Ferrari (disambiguation).

"Ferraris" redirects here.

For the surname, see Ferraris (surname).

Italian sports car manufacturer

Ferrari (; Italian: [ferˈraːri]) is an Italianluxurysports carmanufacturer 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.

In 2014 Ferrari was rated the world's most powerful brand by Brand Finance.[3] In June 2018, the 1964 250 GTO became the most expensive car in history, setting an all-time record selling price of $70 million.[4][5]

Fiat S.p.A.

acquired 50% of Ferrari in 1969 and expanded its stake to 90% in 1988.[6] In October 2014 Fiat Chrysler Automobiles N.V.

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(FCA) announced its intentions to separate Ferrari S.p.A. from FCA; as of the announcement FCA owned 90% of Ferrari.[7][8][9] 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% of the shares in an IPO and concurrent listing of common shares on the New York Stock Exchange.[10] Through the remaining steps of the separation, FCA's interest in Ferrari's business was distributed to shareholders of FCA, with 10% continuing to be owned by Piero Ferrari.[11] The spin-off was completed on 3 January 2016.[10]

Throughout 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, holding the most constructors championships (16) and having produced the highest number of drivers' championship wins (15).[12] Ferrari road cars are generally seen as a symbol of speed, luxury and wealth.[13]

History[edit]

Main article: History of Ferrari

Enzo Ferrari was not initially interested in the idea of producing road cars when he formed Scuderia Ferrari in 1929, with headquarters in Modena.

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Scuderia Ferrari (pronounced [skudeˈriːa]) literally means "Ferrari Stable" and is usually used to mean "Team Ferrari." Ferrari bought,[citation needed] prepared, and fielded Alfa Romeo racing cars for gentleman drivers, functioning as the racing division of Alfa Romeo. In 1933, Alfa Romeo withdrew its in-house racing team and Scuderia Ferrari took over as its works team:[1] the Scuderia received Alfa's Grand Prix cars of the latest specifications and fielded many famous drivers such as Tazio Nuvolari and Achille Varzi.

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In 1938, Alfa Romeo brought its racing operation again in-house, forming Alfa Corse in Milan and hired Enzo Ferrari as manager of the new racing department; therefore the Scuderia Ferrari was disbanded.[1]

In September 1939, Ferrari left Alfa Romeo under the provision he would not use the Ferrari name in association with races or racing cars for at least four years.[1] A few days later he founded Auto Avio Costruzioni, headquartered in the facilities of the old Scuderia Ferrari.[1] The new company ostensibly produced machine tools and aircraft accessories.

In 1940, Ferrari produced a race car – the Tipo 815, based on a Fiat platform.

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It was the first Ferrari car and debuted at the 1940 Mille Miglia, but due to World War II it saw little competition. In 1943, the Ferrari factory moved to Maranello, where it has remained ever since. The factory was bombed by the Allies and subsequently rebuilt including works for road car production.

The first Ferrari-badged car was the 1947 125 S, powered by a 1.5 L V12 engine;[1] Enzo Ferrari reluctantly built and sold his automobiles to fund Scuderia Ferrari.[14]

The Scuderia Ferrari name was resurrected to denote the factory racing cars and distinguish them from those fielded by customer teams.

In 1960 the company was restructured as a public corporation under the name SEFAC S.p.A. (Società Esercizio Fabbriche Automobili e Corse).[15]

Early in 1969, Fiat 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 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.

In 1988, Enzo Ferrari oversaw the launch of the Ferrari F40, the last new Ferrari launched before his death later that year. In 1989, the company was renamed Ferrari S.p.A.[15] From 2002 to 2004, Ferrari produced the Enzo, their fastest model at the time, which was introduced and named in honor of the company's founder, Enzo Ferrari.

It was to be called the F60, continuing on from the F40 and F50, but Ferrari was so pleased with it, they called it the Enzo instead. It was initially offered to loyal and recurring customers, each of the 399 made (minus the 400th which was donated to the Vatican for charity) had a price tag of $650,000 apiece (equivalent to £400,900).

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On 15 September 2012, 964 Ferrari cars worth over $162 million (£99.95 million) attended the Ferrari Driving Days event at Silverstone Circuit and paraded round the Silverstone Circuit setting a world record.[16]

Ferrari's former CEO and Chairman, Luca di Montezemolo, resigned from the company after 23 years, who was succeeded by Amedeo Felisa and finally on 3 May 2016 Amedeo resigned and was succeeded by Sergio Marchionne, CEO and Chairman of Fiat Chrysler Automobiles, Ferrari's parent company.[17] In July 2018, Marchionne was replaced by board member Louis Camilleri as CEO and by John Elkann as chairman.[18]

On 29 October 2014, the FCA group, resulting from the merger between manufacturers Fiat and Chrysler, announced the split of its luxury brand, Ferrari.

The aim is to turn Ferrari into an independent brand which 10% of stake will be sold in an IPO in 2015.[19] Ferrari officially priced its initial public offering at $52 a share after the market close on 20 October 2015.[20]

Motorsport[edit]

For a complete list of Ferrari racing cars, see List of Ferrari competition cars.

Since the company's beginnings, Ferrari has been involved in motorsport, competing in a range of categories including Formula One and sports car racing through its Scuderia Ferrari sporting division as well as supplying cars and engines to other teams and for one make race series.

The 1940 AAC 815 was the first racing car to be designed by Enzo Ferrari, although it was not badged as a Ferrari model.

Scuderia Ferrari[edit]

Main article: Scuderia Ferrari

Scuderia Ferrari has participated in several classes of motorsport, though it is currently only officially involved in Formula One.

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It is the only team to have competed in the Formula One World Championship continuously since its inception in 1950. José Froilán González gave the team its first F1 victory at the 1951 British Grand Prix.

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Alberto Ascari gave Ferrari its first Drivers Championship a year later. Ferrari is the oldest team in the championship, and the most successful: the team holds nearly every Formula One record. As of 2014[update], the team's records include 15 World Drivers Championship titles, 16 World Constructors Championship titles, 221 Grand Prix victories, 6736.27 points, 679 podium finishes, 207 pole positions, and 230 fastest laps in 890 Grands Prix contested.

Of the 19 tracks used in 2014, 8 have lap records set by the F2004, with a further 3 set by the F2003-GA, F2008 and F10.

Ferrari drivers include: Tazio Nuvolari, José Froilán González, Juan Manuel Fangio, Alberto Ascari, Luigi Chinetti, Maurice Trintignant, Wolfgang von Trips, Phil Hill, Olivier Gendebien, Mike Hawthorn, Peter Collins, Giancarlo Baghetti, Ricardo Rodríguez, Chris Amon, John Surtees, Lorenzo Bandini, Ludovico Scarfiotti, Jacky Ickx, Mario Andretti, Clay Regazzoni, Niki Lauda, Carlos Reutemann, Jody Scheckter, Gilles Villeneuve, Didier Pironi, Patrick Tambay, René Arnoux, Michele Alboreto, Gerhard Berger, Nigel Mansell, Alain Prost, Jean Alesi, Michael Schumacher, Eddie Irvine, Rubens Barrichello, Felipe Massa, Kimi Räikkönen, Fernando Alonso, Sebastian Vettel, and Charles Leclerc.

At the end of the 2006 season, the team courted controversy by continuing to allow Marlboro to sponsor them after they, along with the other F1 teams, made a promise to end sponsorship deals with tobacco manufacturers. A five-year deal was agreed and although this was not due to end until 2011, in April 2008 Marlboro dropped their on-car branding on Ferrari.

In addition to Formula One, Ferrari also entered cars in sportscar racing, the two programs existing in parallel for many years.

In 1949, Luigi Chinetti drove a 166 M to Ferrari's first win in motorsports, the 24 Hours of Le Mans. Ferrari went on to dominate the early years of the World Sportscar Championship which was created in 1953, winning the title seven out of its first nine years.

When the championship format changed in 1962, Ferrari earned titles in at least one class each year through to 1965 and then again in 1967. Ferrari would win one final title, the 1972 World Championship of Makes before Enzo decided to leave sports car racing after 1973 and allow Scuderia Ferrari to concentrate solely on Formula One.

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During Ferrari's seasons of the World Sportscars Championship, they also gained more wins at the 24 Hours of Le Mans, with the factory team earning their first in 1954. Another win would come in 1958, followed by five consecutive wins from 1960 to 1964. Luigi Chinetti's North American Racing Team (NART) would take Ferrari's final victory at Le Mans in 1965.

Although Scuderia Ferrari no longer participated in sports cars after 1973, they have occasionally built various successful sports cars for privateers. These include the BB 512 LM in the 1970s, the 333 SP which won the IMSA GT Championship in the 1990s, and currently the 458 GT2 and GT3 which are currently winning championships in their respective classes.

Race cars for other teams[edit]

Throughout its history, Ferrari has supplied racing cars to other entrants, aside from its own works Scuderia Ferrari team.

In the 1950s and '60s, Ferrari supplied Formula One cars to a number of private entrants and other teams.

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One famous example was Tony Vandervell's team, which raced the Thinwall Special modified Ferraris before building their own Vanwall cars.

The North American Racing Team's entries in the final three rounds of the 1969 season were the last occasions on which a team other than Scuderia Ferrari entered a World Championship Grand Prix with a Ferrari car.[21]

Ferrari supplied cars complete with V8 engines for the A1 Grand Prix series, from the 2008-09 season.[22] The car was designed by Rory Byrne and is styled to resemble the 2004 Ferrari Formula one car.

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Ferrari currently runs a customer GT program for a racing version of its 458 and has done so for the 458's predecessors, dating back to the 355 in the late 1990s. Such private teams as the American Risi Competizione and Italian AF Corse teams have been very successful with Ferrari GT racers over the years. This car, made for endurance sportscar racing to be competed against such racing versions of the Audi R8, McLaren MP4-12C, and BMW Z4 (E89) has proven to be successful, but not as successful as its predecessor, the F430.

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The Ferrari Challenge is a one-make racing series for the Ferrari 458. The FXX is not road legal and is therefore only used for track events.

Road cars[edit]

For a complete list, including future and concept car models, see List of Ferrari road cars.

The first vehicle made with the Ferrari name was the 125 S.

This was primarily a sports/racing model. In 1949, the 166 Inter was introduced marking the company's significant move into the grand touring road car market.

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Road cars continue to make up the bulk of Ferrari sales to the present day.

Many early cars featured bodywork designed and customised by independent coachbuilders such as Pininfarina, Scaglietti, Zagato, Vignale and Bertone.

Starting in the early 2010s with the LaFerrari, the focus was shifted to what is now the standard, Ferrari relying on an in-house design from the Centro Stile Ferrari.

The original road cars were typically two seat front engined V12s. This platform served Ferrari very well through the 1950s and 1960s. In 1968 the Dino was introduced as the first two-seat rear mid-engined Ferrari. The Dino was produced primarily with a V6 engine, however, a V8 model was also developed.

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This rear mid-engine layout would go on to be used in many Ferraris of the 1980s, 1990s and to the present day. Current road cars typically use V8 or V12 engines, with V8 models making up well over half of the marque's total production. Historically, Ferrari has also produced flat 12 engines.

For a time, Ferrari built 2+2 versions of its mid-engined V8 cars. Although they looked quite different from their 2-seat counterparts, both the GT4 and Mondial were closely related to the 308 GTB.[citation needed]

The company has also produced several front-engined 2+2 cars, culminating in the current V12 model Lusso and V8 models Portofino and Lusso T.

The California is credited with initiating the popular current model line of V8 front-engined 2+2 grand touring performance sports cars.[citation needed]

Ferrari entered the mid-engined 12-cylinder fray with the Berlinetta Boxer in 1973.

The later Testarossa (also mid-engined 12 cylinder) remains one of the most popular and famous Ferrari road cars of all time.

Current models[edit]

Customization[edit]

In the 1950s and 1960s, clients often personalized their vehicles as they came straight from the factory.[23] This philosophy added to the mystique of the brand.

Every Ferrari that comes out of Maranello is built to an individual customer's specification. In this sense, each vehicle is a unique result of a specific client's desire.

Ferrari formalized this concept with its earlier Carrozzeria Scaglietti programme. The options offered here were more typical such as racing seats, rearview cameras, and other special trim. In late 2011, Ferrari announced a significant update of this philosophy.

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The Tailor Made programme allows clients to work with designers in Maranello to make decisions at every step of the process. Through this program almost any trim, any exterior color or any interior material are possible. The program carries on the original tradition and emphasizes the idea of each car being unique.[23]

Supercars[edit]

The 1984 288 GTO may be considered the first in the line of Ferrari supercars. This pedigree extends through the Enzo Ferrari to the LaFerrari.

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In February 2019, at the 89th Geneva International Motor Show, Ferrari revealed its latest mid-engine V8 supercar, the F8 Tributo.[24]

Ferrari SF90 Stradale is the first ever Ferrari to feature PHEV (Plug-in Hybrid Electric Vehicle) architecture which sees the internal combustion engine integrated with three electric motors, two of which are independent and located on the front axle, with the third at the rear between the engine and the gearbox.[25]

Concept cars and specials[edit]

Ferrari has produced a number of concept cars, such as the Mythos.

While some of these were quite radical (such as the Modulo) and never intended for production, others such as the Mythos have shown styling elements which were later incorporated into production models.

The most recent concept car to be produced by Ferrari themselves was the 2010 Millechili.

A number of one-off special versions of Ferrari road cars have also been produced, commissioned to coachbuilders by wealthy owners.

Recent examples include the P4/5[26] and the 412 Kappa.

Ferrari Special Projects[edit]

The Special Projects programme was launched in the late 2000s as Ferrari's ultimate in-house personalization service, enabling customers to own bespoke bodied one-offs based on modern Ferrari road cars.[27] Engineering and design is done by Ferrari, sometimes in cooperation with external design houses like Pininfarina or Fioravanti, and the vehicles receive full homologation to be road legal.[27]

The first car to be completed under this programme was the 2008 SP1, commissioned by a Japanese business executive, the second was the P540 Superfast Aperta, commissioned by an American collector.[27] The following is a list of Special Projects cars that have been made public:

Bio-fuel and hybrid cars[edit]

An F430 Spider that runs on ethanol was displayed at the 2008 Detroit Auto Show.

At the 2010 Geneva Motor Show, Ferrari unveiled a hybrid version of their flagship 599. Called the "HY-KERS Concept", Ferrari's hybrid system adds more than 100 horsepower on top of the 599 Fiorano's 612 HP.[42] Also in mid-2014, the flagship LaFerrari was put into production.

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Naming conventions[edit]

From the beginning, the Ferrari naming convention consisted of a three-digit unitary displacement of an engine cylinder with an additional suffix representing the purpose of a vehicle. Therefore, Ferrari 125 S had 1.5 L (1496.77 cc) V12 engine with unitary displacement of 124.73 cc; whilst S-suffix represented Sport. Other race cars also received names invoking particular races like Ferrari 166 MM for Mille Miglia.

With introduction of road-going models, suffix Inter was added, inspired by Scuderia Inter racing team of Igor Troubetzkoy. Popular at that time 166-series had 2.0 L (1995.02 cc) engines with 166.25 cc of unitary displacement and a very diverse 250-series had 3.0 L (2953.21 cc) of total displacement and 246.10 cc of unitary.

Later series of road cars were renamed Europa and top of the line series: America and Superamerica.

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Until the early 1990s, Ferrari followed a three-number naming scheme based on engine displacement and number of cylinders:

  • V6 and V8 models used the total displacement (in decilitres) for the first two digits and the number of cylinders as the third. Thus, the 206 was a 2.0 L V6 powered vehicle, while the 348 used a 3.4 L V8, although, for the F355, the last digit refers to 5 valves per cylinder.

    Upon introduction of the 360 Modena, the digits for V8 models (which now carried a name as well as a number) refer only to total engine displacement. The numerical indication aspect of this name carried on to the F430; the F430's replacement, the 458 Italia, uses the same naming as the 206 and 348.

    The 488 uses the system formerly used by the V12 cars.

  • V12 models used the displacement (in cubic centimetres) of one cylinder. Therefore, the famed 365 Daytona had a 4,390 cc (268 cu in) V12. However, some newer V12-engined Ferraris, such as the 599, have three-number designations that refer only to total engine displacement or boxer-style designations such as the [nominally] six-litre, V12 612.
  • Boxer 12 models used the displacement in litres for the first digit and the number of cylinders for the next two digits.

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    Therefore, the BB 512 was five litre flat 12 (a Berlinetta Boxer, in this case). However, the original Berlinetta Boxer was the 365 GT4 BB, which was named in a similar manner to the V12 models.

  • Flagship models (aka "halo cars") use the letter F followed by the anniversary in years, such as the F40 and F50. The Enzo skipped this rule, although the F60 name was applied to a Ferrari Formula One car and is sometimes attached to the Enzo.
  • Some models, such as the 1980 Mondial and the 1984 Testarossa did not follow a three-number naming scheme.

Most Ferraris were also given designations referring to their body style.

In general, the following conventions were used:

  • M ("Modificata"), placed at the end of a model's number, denotes a modified version of its predecessor and not a complete evolution (see F512 M and 575 M Maranello).
  • GTB ("Gran Turismo Berlinetta") models are closed Berlinettas, or coupés.
  • GTS ("Gran Turismo Scoperta") this suffix can be seen in older spiders, or convertibles (see 365 GTS/4).

    Now the convertible models use the suffix "Spider" (spelt "i") (see F355 Spider, and 360 Spider). In more recent models, this suffix is used for targa top models (see Dino 246 GTS, and F355 GTS), that is an absolutely correct use of the suffix, since "scoperta" means "uncovered". An increasing number of people tend to refer to GTS as "Gran Turismo Spyder", which creates the false assumption that Ferrari doesn't know the difference between spyder and targa.

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    The 348 TS, which is the only targa named differently, is an exception.

  • GTO ("Gran Turismo Omologata"), placed at the end of a model's number, denotes a modified version of its predecessor. They designate a model which has been designed and improved for racetrack use while still being street legal.

    Only three models bear those three letters: the 250 GTO of 1962, the 288 GTO of 1984, and the 599 GTO of 2010.

This naming system can be confusing, as some entirely different vehicles used the same engine type and body style. Many Ferraris also had other names affixed (like Daytona) to identify them further. Many such names are actually not official factory names. The Daytona name commemorates Ferrari's triple success in the February 1967 24 Hours of Daytona with the 330 P4.[43] Only in the 1973 Daytona 24 Hours, a 365 GTB/4 run by NART (who raced Ferraris in America) ran second, behind a Porsche 911.[44]

The various Dino models were named for Enzo's son, Dino Ferrari, and were marketed as Dinos by Ferrari and sold at Ferrari dealers—for all intents and purposes they are Ferraris.

In the mid-1990s, Ferrari added the letter "F" to the beginning of all models (a practice abandoned after the F512 M and F355, but adopted again with the F430, but not with its successor, the Ferrari 458 ).

Identity[edit]

Enzo Ferrari in a rare interview, with the Ferrari's symbol Cavallino Rampante ("prancing horse") behind him.
Ferrari 312T2 Formula One car driven by Niki Lauda