Is Ferrari an Italian Car Company?
Ferrari is easily one of the most iconic names in the industry. It’s a legendary race team, a producer of some speedy streetcars, and a worldwide household name. But where did the story of this automobile legend begin? Is Ferrari an Italian car company?
Who founded Ferrari?
The founder of Ferrari, according to Wikipedia, is Enzo Anselmo Giuseppe Maria Ferrari. He began by forming the Ferrari racing team. In fact, the team’s first victory at the Rome GP was in 1947, Ferrari’s official founding year. By 1948, Ferrari released the Barchetta at the Turin Motor Show.
Are Ferraris expensive?
Today, people know the Ferrari Italian car company represents some of the fastest and most impressive cars on the market. For instance, Ferrari is among the more prominent names in Formula 1 racing. Additionally, Ferrari is a very expensive brand. The entry-level Ferrari Portofino costs over $200 grand, according to Motor1.
What does the name mean?
Because Ferrari originated in Italy, it’s not surprising that the name is Italian. In fact, the name is a very common surname throughout the country of Italy. So what does Ferrari mean? The name Ferrari, according to Continental AutoSports, comes from an older name, Ferraro, which means ‘Blacksmith.’ It’s about as common as the last name Smith here in the states.
Does Fiat own Ferrari?
At one point, according to Continental AutoSports, Fiat “once had a major stake in Ferrari.” In 1969, Fiat became a 50% shareholder in the Italian Car company. In fact, by 1988 Fiat owned 90% of Ferrari. Even though Fiat never claimed full ownership, it owned 90% of the Italian car company up until 2014. That’s when FCA officially decided to part ways with most of its Ferrari shares. The ownership stake was sold and FCA ultimately listed the Italian car company on the New York Stock exchange.
What about Ford?
The story goes that Henry Ford II approached Enzo Ferrari about buying the sports car brand before Fiat gained its stock. The deal fell through at the last second, however, and that is allegedly what gave way to the famed “Ford vs Ferrari” story. But in short, no. Ford does not own Ferrari.
In fact, most of Fiat is now publicly owned. According to CAS, 67.09% of Fiat, Italian car company, is public. Exor N.V. owns 22.91%. Ferrari heir Piero Ferrari maintains ownership of 10%.
Is it an Italian car company?
Yes, Ferrari is an Italian car company. Its deep roots in Italian culture are as simple as its name. The company is still owned by the the original blood line. Piero Ferrari is founder Enzo Ferrari’s son. Ferrari isn’t just loved and respected in Italy, however.
The Ferrari name claims devoted fans worldwide. These expensive engineering marvels are a huge presence in Formula 1 racing. Over the years, 110 drivers have raced under the Ferrari name. The Italian originating race team claims 15 driver’s world titles and 16 constructor’s world titles.