Ferrari is the name that comes to mind when you think of a high-speed luxury car. Unique in name and form, it is a brand that keeps car lovers looking for more. Behind the prancing horse is a company with a rich history. One of the most important questions would be who owns Ferrari and its ownership structure since inception. This sequence will give you the rundown of owners that have helped shape the company’s ambitions both in the past and the present.
Ferrari has a history dating back to the 1940s. Its founder, Enzo Ferrari, worked for the Alfa Romeo racing team as a race driver for over nine years and a repair consultant until 1939 when he left the company.
With a passion for contributing to the sport, he began developing his 12-cylinder engine in 1945, and by 1947, the 125 S Ferrari model was born. He also created his racing team and joined the car race championships.
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The private company sustained its car production until the 1960s when it fell into financial troubles. The Ferrari founder finally sold 50% of the company to Fiat in 1969.
Enzo steered the company’s brand to international recognition by making iconic cars with powerful engines that could achieve top speeds. He died in 1988 and Piero Ferrari, his second son, took over leadership of Ferrari with 10% ownership while Fiat increased its stake to 90%.
Today, Piero is the vice-chairman of Ferrari and has a 10% stake in the company. His current net worth is $3.5 billion.
- 1 Did Ferrari split from FCA?
- 2 Who owns Ferrari?
- 3 What company owns Ferrari?
- 4 Who owns Ferrari and Maserati?
- 5 So is Ferrari its own company?
- 6 Ferrari product range
- 7 Services offered by Ferrari
Did Ferrari split from FCA?
The Fiat and Piero ownership arrangement was maintained until 2014 when the now called Fiat Chrysler Automobiles (FCA) announced that they would separate from Ferrari S.p.A and Ferrari N.V would take over as the holding company.
If you are wondering what car company owns Ferrari then its Ferrari S.p.A and it handles all the production of the vehicle. Ferrari N.V, on the other hand, is the holding company that deals with corporate matters. Both are branches of Fiat Chrysler Automobiles which is owned by Exor N.V. However, it is worth noting that Ferrari is not 100% owned by Exor N.V.
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Who owns Ferrari?
Currently, Ferrari is split between an heir, a holding company, and the public as follows:
- The public 67.09%
- Exor N.V 22.91%
- Piero Ferrari 10%
So is Fiat part of Ferrari? By offering an initial 10% of its shares in an IPO and distributing 80% to shareholders, Fiat relinquished its stake. The public can trade shares in Ferrari as it is on the New York Stock Exchange.
What company owns Ferrari?
Exor N.V is the second-largest owner of Ferrari with a 22.91% ownership and has about 33.4% of voting rights. It is an investment holding company based in the Netherlands. As one of the owners of FCA, they took up a stake in Ferrari when FCA announced the split. The revenue from their Ferrari shares in 2019 was at €3.622 million.
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Who owns Ferrari and Maserati?
Although both companies may have many things in common, including their history, they currently have different owners. Ferrari is owned by Piero Ferrari (10%), Exor N.V (22.91%), and the public (67.09%).
Maserati, like Ferrari, has a rich family history as it was started by five brothers in 1914 in Italy. The company has since then changed hands among its parent companies on several occasions. In 1993, Fiat Chrysler Automobiles (FCA) took over the ownership of Maserati and stills owns it to date.
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So is Ferrari its own company?
Through its ownership model, one would say Ferrari is not its own company. As of January 2016, it became primarily a publicly owned car-making company. The company is mostly known for sports cars and races. However, it has other several products and services on offer, and they provide revenue for the company annually.
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Ferrari product range
These are the products that Ferrari produces each year for its customers around the globe.
Ferrari is known for making luxury sports cars. The company has been producing about 7,000-9,000 units in the last five years to keep the demand higher than supply. Due to their high demand globally, the company works with a waiting list of clients who mainly come from North America, Europe, the Middle East, and China.
The current car models on offer include:
1. The 2020 Ferrari GTC4 Lusso
It is a four-seater car that can reach 0-60 mph in 3.4 seconds, and its top speed is 208 mph. It also includes all-wheel driving as well as four-wheel steering. It goes for a price of $298,000.
2. The 2020 Ferrari F8 Tributo
The 3.9-litre twin-turbo V8 engine can reach 0-60 mph in 2.9 seconds and 0-124 mph in 7.8 seconds reaching a top speed of 211 mph. Its price is $276,550.
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3. Ferrari Portofino
The 3.9-litre twin-turbo V8 engine can achieve 0-60 mph in 3.5 seconds and 0-124 mph in 7.8 seconds. It has a top speed of 199 mph and goes for $215,000.
4. Ferrari Monza SP1 and SP2
They are a limited edition of cars that can reach 0-60mph at an estimated speed of less than 3seconds and 0-100 mph in less than 8 seconds. They come with a 6.5-litre V12 engine and have a base price of $1,000,000.
5. Ferrari Roma
This is the latest model in 2020, and it comes with a 3.9-litre turbo V8 engine. It can reach speeds of 0-60 mph in 3.4 seconds and 0-124 mph in 9.3 seconds with the overall top speed at 199 mph. Its current price is $225,000.
The company also looks to launch a four-seater SUV model in 2022 to increase its market reach by providing a fast and classy yet comfortable car for families.
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Ferrari decided to explore more growth opportunities, and luxury merchandise was an area that held the potential to increase its revenues.
The company has since then introduced branded merchandise which includes items like hats, sunglasses, watches, jackets, shoes, and keychains. The branded items have brought in $2.5 billion annually in revenue for the company and have slightly overtaken car sales.
The merchandise is sold through its website, franchises, and direct stores. Ferrari has about 50 retail stores globally, including some in Macao, New York, and Singapore.
Services offered by Ferrari
Ferrari has several benefits that it offers to its customers. These services are:
Formula One racing
As with their car brand, motor racing is a service that Ferrari has been engaged in since its inception. Its racing team is called Scuderia Ferrari. Their fans can watch the team race in the different Grand Prix events around the world.
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Ferrari, with its unique engines and race wins, topped Formula Ones’s most valuable teams in 2019 with an estimated value of $1.35 billion. Its revenues for the year were $426 million.
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The company offers driving courses known as Corso Pilota for its customers around the world. The exclusive driving courses are taught using various Ferrari car models. They take place several times a year in different locations around the world. In the United States, the course takes place in April, June, September, and November.
The cost of the courses is as follows:
- Corso Pilota Sport-$15,290 + tax
- Corso Pilota Advanced-$18,370 + tax
- Corso Pilota Evolution-$22,500 + tax
- Corso Pilota Challenge-$27,309 + tax
The company also creates competitive races for its car dealers known as Ferrari Challenge Trofeo Pirelli as well as non-competitive races such as F1 Clienti for its customers.
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Other licensed firms run these theme parks, and they provide fun activities for families. The company opened Ferrari World as its first and largest theme park in Abu Dhabi. It provides over 20 fast rides, Ferrari-inspired shows, and several attraction sites. There are also several eateries, including Espresso Rosso and Il Podio, for their customers to indulge in their favorite coffee, foods, and snacks.
The Ferrari Land PortAventura is their other amusement park found in Tarragona, Spain. It also provides impressive rides, shows, and games. There are several shops, including the Ferrari Land Store, where customers can buy exclusive branded merchandise.
The company has two museums, the Ferrari Museum in Maranello and the Enzo Ferrari Museum in Modena, Italy. They provide a place where visitors can learn about the Ferrari founder, the company’s past, present, and future ambitions. The ticket price ranges between €7.00 for under 19 year-olds to €17.00 for adults with free passes for disabled persons and children under five years.
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With all these products and services, the Ferrari company net worth is estimated to be $4 billion.
In early 2020, Ferrari was announced as the world’s most powerful brand by The Brand Finance Global 500 in 2020 for a second year running. The top brand valuation agency seeks to measure brands on their power and value.
The main areas looked at include desirability, employee satisfaction, loyalty, and consumer sentiment to visual identity, among others. On all these scales, Ferrari scored the highest and earned an AAA+ rating beating other wealthier brands such as Coca Cola, Rolex, and Disney.
Ferrari, in its humble beginnings, has risen to become one of the most recognized brands in the world. With Enzo’s vision to make a lasting impact on the sport, he built a company that extends beyond the race track to people’s homes all over the world. Its history and current ownership chronology give not only a more profound knowledge of who owns Ferrari but also its adaption to modern methods of business ownership. With its new ownership model, the company looks to maintain its powerful brand while satisfying its customers with its ever-astonishing eye for speed.
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Source: Kenyan Breaking News
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