FERRARI(history)

1929–1946

Enzo Ferrari never intended to produce road cars when he formed Scuderia Ferrari in 1929 as a sponsor for amateur drivers headquartered in Modena. Ferrari prepared and successfully raced various drivers in Alfa Romeo cars until 1938, when he was officially hired by Alfa as head of their racing department.

In 1940, Alfa Romeo was absorbed by the government as part of the war effort. Enzo Ferrari's division was small enough to be unaffected by this. Because he was prohibited by contract from racing for four years, the Scuderia briefly became Auto Avio Costruzioni Ferrari, which ostensibly produced machine tools and aircraft accessories. Also known as SEFAC (Scuderia Enzo Ferrari Auto Corse) Ferrari did in fact produce one racecar, the Tipo 815, in the non-competition period; it was thus the first actual Ferrari car (it 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 in 1944 and rebuilt in 1946 to include a works for road car production. Right up to Il Commendatore's death, this would remain little more than a source of funding for his first love, racing.

"Scuderia Ferrari" literally means "Ferrari Stable"; the name is figuratively translated as "Team Ferrari". (It is correctly pronounced "skoo deh REE ah".)

1945–present

The first Ferrari road car was the 1947 125 S, powered by a 1.5 L V12 engine; Enzo reluctantly built and sold his automobiles to fund the Scuderia. While his beautiful and fast cars quickly gained a reputation for excellence, Enzo maintained a famous distaste for his customers, most of whom he felt were buying his cars for the prestige and not the performance. However, at one point, Enzo Ferrari's cars were exceeded in performance by the Spanish firm, Pegaso, which later went defunct.

Ferrari road cars, noted for magnificent styling by design houses like Pininfarina, have long been one of the ultimate accessories for the rich. Other design houses that have done work for Ferrari over the years include Scaglietti, Bertone, Touring, Ghia, and Vignale.

In 2005, four universities were granted the opportunity to design the next vehicle line-up for Ferrari in a student competition named 'Ferrari Concepts of the Myth'. Twenty winners were allowed to show off their concepts in a ¼ scale model and present their work to the board at Ferrari to allow for three out right winners to have the chance to work in the Ferrari design studio at Maranello.

As of 2007, the Fiat Group owns 85% of Ferrari, Mubadala 5%, and Enzo's son Piero 10%. Fiat has shelved plans for an IPO because Fiat Auto has now returned to profitability, thus removing pressure from the group.