Who Owns Ferrari ? Unraveling the Ownership Structure of the Prancing Horse Introduction
Introduction
Ferrari is a luxury sports car manufacturer based in Maranello, Italy. It was founded by Enzo Ferrari in 1929 as Scuderia Ferrari, a racing team that later evolved into an automotive company. Ferrari has become an iconic brand in the automotive industry, known for its high-performance sports cars and Formula One racing heritage.
Ferrari’s Early Years
Ferrari’s early years began in 1929 when Enzo Ferrari founded Scuderia Ferrari as a racing team. The team enjoyed early success in motor racing, winning the Mille Miglia endurance race in 1932 and the 24 Hours of Le Mans in 1949 and 1954. In 1969, Fiat acquired a 50% stake in Ferrari, with Enzo Ferrari retaining the other 50%. This acquisition was part of Fiat’s strategy to expand its automotive empire. Under Fiat’s ownership, Ferrari expanded its production of road cars while continuing to achieve success in Formula One racing.
In 2015, Ferrari was spun off from Fiat Chrysler Automobiles (FCA) and became an independent company known as Ferrari N.V. This move allowed Ferrari to focus on its core business of producing high-performance sports cars and luxury vehicles. Today, Ferrari N.V. is publicly traded on the New York Stock Exchange under the ticker symbol RACE.
The Ferrari N.V. Ownership Structure
The ownership structure of Ferrari N.V. is complex and involves several entities. Ferrari N.V. is the parent company of several subsidiaries, including Ferrari S.p.A., which is responsible for the design, production, and sale of Ferrari’s sports cars. The Ferrari family still holds a significant stake in the company, with Piero Ferrari, Enzo Ferrari’s son, owning a 10% stake. Piero Ferrari is also the Vice Chairman of Ferrari N.V. and is involved in the company’s strategic decision-making. Exor N.V. is another major player in Ferrari’s ownership structure. Exor N.V. is an investment company controlled by the Agnelli family, which also controls Fiat Chrysler Automobiles (FCA). Exor N.V. owns a 23.5% stake in Ferrari N.V. and is the largest shareholder in the company.
Other shareholders in Ferrari N.V. include institutional investors, mutual funds, and individual investors, who own the remaining 66.5% of the company. Despite the public ownership of Ferrari N.V., the Ferrari family and Exor N.V. continue to have significant influence over the company’s operations and direction.
Ferrari’s Financial Performance
Ferrari has consistently been one of the most profitable automakers in the world. In 2020, the company reported a revenue of €3.5 billion and a net profit of €671 million. Ferrari’s profitability is due in part to its focus on producing high-end sports cars and luxury vehicles that command premium prices.
The COVID-19 pandemic had a significant impact on Ferrari’s financial performance in 2020. The company experienced a decline in sales due to supply chain disruptions, factory shutdowns, and decreased demand for luxury vehicles. However, Ferrari’s brand strength and loyal customer base helped mitigate the impact of the pandemic on its financials. Ferrari’s position in the luxury car market is unique due to its focus on producing high-performance sports cars rather than luxury sedans or SUVs. Despite this narrow focus, Ferrari has managed to establish itself as one of the most recognizable and desirable brands in the luxury car market. The company’s limited production runs and exclusive customer experience have helped it maintain a premium pricing strategy.
Ferrari’s Future Plans
Ferrari has ambitious plans for its future, including expanding its reach into new markets, increasing its focus on electric and hybrid vehicles, and continuing its involvement in Formula One racing. One of Ferrari’s key growth strategies is to expand its reach into new markets, particularly in Asia and the Middle East. The company has plans to open new showrooms in these regions and increase its production capacity to meet growing demand.
Ferrari is also committed to developing electric and hybrid vehicles as part of its efforts to reduce its carbon footprint and meet global emissions standards. The company has already introduced its first hybrid model, the SF90 Stradale, and has plans to release additional hybrid and electric models in the coming years. Ferrari’s involvement in Formula One racing is a critical part of its brand identity and has helped to establish the company as a leader in automotive technology and innovation. Ferrari has a long and storied history in Formula One, with numerous championships and race wins to its name. The company remains committed to Formula One and is actively involved in the development of new technologies and innovations that can be used in its road cars.
Conclusion
Ferrari’s ownership structure is a unique blend of family ownership and public investment. The Ferrari family, including Piero Ferrari, continues to play a significant role in the company’s operations and decision-making, while Exor N.V. represents the largest shareholder in the company. Despite this complex ownership structure, Ferrari has remained a highly profitable and successful automaker. Ferrari’s cultural significance extends beyond the world of automobiles. The company’s iconic prancing horse logo and sleek, high-performance sports cars have become symbols of luxury, exclusivity, and Italian design. Ferrari’s continued success in the automotive industry is a testament to its commitment to innovation and quality.
Looking ahead, Ferrari’s future prospects appear bright. The company’s expansion into new markets, commitment to electric and hybrid vehicles, and involvement in Formula One racing are all promising signs for its continued growth and success. As Ferrari continues to evolve and adapt to changing market conditions, it is poised to remain one of the most recognizable and desirable brands in the automotive industry for years to come.
FaQs
Who Owns Ferrari?
Ferrari was founded by Enzo Ferrari in 1947.
When did Fiat acquire Ferrari?
Fiat acquired a 50% stake in Ferrari in 1969 and subsequently increased its ownership stake over time.
How much of Ferrari does the Ferrari family own?
The Ferrari family owns a 10% stake in Ferrari through Piero Ferrari, Enzo Ferrari’s son.
Who owns the majority of Ferrari?
Exor N.V., an Italian investment company controlled by the Agnelli family, owns the majority of Ferrari with a 23.5% stake.
What is Exor N.V.?
Exor N.V. is an Italian investment company controlled by the Agnelli family, which also controls Fiat Chrysler Automobiles and Juventus Football Club.
How has Ferrari’s financial performance been impacted by the COVID-19 pandemic?
Ferrari’s financial performance was impacted by the COVID-19 pandemic, with a decline in sales and revenue in 2020. However, the company has since seen a recovery in its financial performance.
What are Ferrari’s plans for electric and hybrid vehicles?
Ferrari is committed to developing electric and hybrid vehicles as part of its efforts to reduce its carbon footprint and meet global emissions standards. The company has already introduced its first hybrid model, the SF90 Stradale, and has plans to release additional hybrid and electric models in the coming years.
What is Ferrari’s involvement in Formula One?
Ferrari has a long history of involvement in Formula One racing and has won numerous championships and races in the sport. The company remains actively involved in the development of new technologies and innovations that can be used in its road cars.
What controversies has Ferrari been involved in?
Ferrari has been involved in several controversies over the years, including accusations of cheating and rule-breaking in Formula One racing. The company has also faced criticism for its high emissions and carbon footprint.
What is Ferrari’s legacy in the automotive industry?
Ferrari is widely regarded as one of the most iconic and influential brands in the automotive industry. The company’s sleek, high-performance sports cars and innovative technologies have set the standard for luxury and performance, and its legacy continues to shape the automotive industry today.