Ferrari is one of the most recognizable and admired luxury high-performance car brands in the world. This well-known brand, which hails from Italy, has been producing sports cars for more than seven decades. Today, Ferrari has a global footprint covering 60 markets worldwide and a network of 167 authorized dealers and 190 points of sale.
At the end of 2018, Ferrari's global headcount stood at 3,851, a significant expansion from 3,380 employees counted at 2017 year-end. About 3,647 of them were based out of their Maranello facility in Italy, and 204 were in offices overseas, mainly in North America and China.
The organization traces its roots to 1929, when Enzo Ferrari, an Alfa Romeo driver since 1924, formed his own Grand Prix motor racing team, the Scuderia Ferrari, in Modena, Italy. His organization served as the racing division of Alfa Romeo, an Italian luxury car manufacturer, until 1939 until Enzo Ferrari decided to venture on his own and establish the Auto Avio Construzioni S.P.A. It is through this newly formed company that Enzo Ferrari would officially enter the business of producing high-performance cars.
Auto Avio Construzioni initially manufactured machine tools and aircraft parts. However, in 1940, Enzo Ferrari built his first example of a race car – the Auto Avi Costruzioni 815, which uses the platform for Fiat 508C. During the Second World War, the company focused on producing grinding machines. It was not until 1947 that the first Ferrari-badged car was produced – the 125 S, which used a 12 cylinder engine that was considered powerful at the time. In the following year, the Ferrari 166 Inter, which was the brand's first road car, was launched. From the onset, styling has been a distinguishing component of the Ferrari brand.
Competitive racing has been an important part of Ferrari's marketing strategy throughout the company's colorful history. The year 1950 marked Ferrari's first every participation in the Formula 1 World Championship, which makes the Scuderia Ferrari the world's longest running Formula 1 team. The team's Constructor World Title in 1952 was just the first of its string of successes on the race tracks. Apart from Formula 1, Ferrari also enjoyed victories in other racing events such as the 24 Hours of Le Mans and the 24 Hours of Daytona.
In 1969, the Fiat group purchased a 50 percent share in Ferrari S.p. A. After Enzo Ferrari's death in 1988, the group increased its stake to 90 percent, with the remaining 10 percent held by the founder's son, Piero Ferrari.
The Fiat Chrysler Automotives announced its intention to separate Ferrari from FCA, a process that was completed in January 2016. Upon completion of Ferrari's initial public offering (IPO), FCA owned 80 percent of Ferrari, with 10 percent still being held by Piero Ferrari and 10 percent by investors in the IPO.
Ferrari reached the streets of Manila, Philippines in 2012 with the appointment of Austrada Motore Inc. as the brand's official distributor in the country. In the same year, Austrada opened its showroom in Bonifacio Global City in Taguig, while launching the Ferrari 458 Italia in the local market at the same time. Since then, the partnership has built and nurtured a community of Ferrari local car owners and enthusiasts.
Apart from Ferrari, Austrada is also the exclusive importer-distributor of another known brand of luxury cars – Maserati. The distributor also maintains a 1,000 sqm service center in Makati City, catering to clients of both brands. The facility houses five open work bays, two service pits, four lifters, and two rooms for the assembly. Factory-trained and certified technicians attend to Ferrari and Maserati cars brought to the facility. There is also a lounge area where clients can wait while their cars are being serviced.
In the Philippines, Ferrari offers a seven-year maintenance service for cars sold starting 2020 s well as a factory power warranty extending up to 12 years.
Ferrari cars that are commercially available in the market fall under the following categories: Sports Range, GT Range, Special Series, and Icona. The company's range of sports cars comes with compact bodies, performance and aerodynamics-centered design. There are also equipped with technologies that were initially developed for the car maker's Formula 1 single-seaters. There are three models belonging to the Ferrari's sports car class, namely 488 GTB and the 488 Spider, both of which run on a V8 engine, and the 812 Superfast, which is powered by a V12 engine. There are also special series cars – the 488 Pista which uses a V8 engine, and its retractable hard top version – the 488 Pista Spider.
Ferrari's GT range boasts of more refined inside cabin and higher emphasis on comfort and quality for passengers. Offered under this category are two V8 engine-based cars: the Ferrari Portofino and the GTC4Lusso T. The latter is the company's first four-seater car that comes equipped with a V8-turbo engine. There is also the GTC4 Lusso, which is a four-wheel drive that runs on a V12 powertrain.
Special Series cars are set apart by software mechanical modifications that allow it to deliver enhanced driving experience. They are mainly targeted at collectors. The Icona class is a new addition to the Ferrari product lineup, having been introduced only in September 2018. Icona cars are modern interpretations of iconic models from Ferrari's rich and colorful history. The first models to come out of this class are the barchetta cars-inspired Ferrari Monza SP1 and SP2, the 750 Monza, and the 860 Monza.
Ferrari also manufactures track cars, which are especially designed and developed for racing. These cars may only be used on tracks and not on regular roads. Additionally, the luxury car maker also produces limited edition hypercars, which boast of futuristic design and highly innovative features technologies. There are also the "fuori serie" or Ferrari's very limited edition cars, which offer designs and specifications that are totally different from the those of Ferarri's standard range. Ferrari also comes up with one-off models that bear specifications requested by discerning clients.
In the Philippines, the models that are currently available from local dealers include the 812 Superfast, GTC4 Lusso, F8 Tributo, 488 Spider, Ferrari 488 Pista, Ferrari 488 Pista Spider, GC Lusso T, Ferrari Portofino, Ferrari Monza SP1, and Ferrari Monza SP2.
The Ferrari Portofino is one of the latest additions to the Ferrari product lineup available to Filipino car enthusiasts. Launched only in October 2018, the Portofino is an entry level car named after a famous resort and fishing town in the Liguria region on the Italian Riviera. The Portofino has a convertible hardtop that opens in just 14 seconds. Under the hood, one will find a direct-injection, twin-turbo V8 F154 engine that generates 592 horsepower and 760 Nm of torque. Having a maximum speed exceeding 320 kph, this supercar can accelerate from zero to 100 kilometers per hour in just 3.5 seconds. It also comes equipped with new features seen in its class for the first time, including the third-generation electronic rear differential (E-Diffs) paired with its F1-Trac and Electric Power Steering.
Ferrari sustained a growth momentum in in 2018, with global shipment volume recorded at 9,251 units. This represents more than 10 percent growth from 2018 and 15 percent from 2017. Europe, Middle East and Africa (EMEA) is its biggest market, contributing 44 percent of the total 2018 shipments. Within this region, the United Kingdom and Germany were the top geographies for Ferrari. The Americas, which consist of the United States, Canada, Mexico, the Caribbean, and Central and South America, made up 34 percent of the 2018 outing. Meanwhile, Asia/Pacific comprised 22 percent of the total units shipped during the year.
The abovementioned figures exclude Ferrari's track cars such as the XX Programme, racing cars, and Fuori Serie, as well as one-off vehicles. From a car category perspective, sports cars contributed 64 percent of the 2018 global shipment volume, while the GT and the Special Series comprised 32 percent and four percent, respectively.
The organization maintains a production facility in Maranello, Italy, where all Ferrari cars and all engines used in their cars as well as those sold to Maserati are assembled. A nearby manufacturing plant in Modena produces all the company's car chassis. Ferrari's brand image is amplified by the Scuderia Ferrari racing team's strong performances at the Formula 1 World Championship, which Ferrari has been participating in since the racing event's inauguration in 1950. The organization leverages the racing team, which showcases the Ferrari car's technological capabilities, as a key component of its marketing strategy. Scuderia Ferrari has so far won 235 Grand Prix races, 16 Constructor World titles, and 15 Drivers' World titles.
Leveraging its strong branding as one of the world's luxury car leaders, Ferrari develops and markets a line of apparel and accessories sold at their monobrand stores and at the company's online store. At the end of 2018, Ferrari has 18 directly owned and operated stores and 17 franchised branches.
The organization also owns and runs two museums, and these are in Maranello and in Modena in Italy. In 2018, these two museums attracted more than half million visitors. The company also operates a theme park called Ferrari World, which has been accepting visitors since 2010. Situated in Abu Dhabi, United Arab Emirates, it is one of the biggest indoor theme parks in the world. Occupying 86,000 square meters of space, the facility consist of 21 rides and attractions. The Italian car maker opened a second theme park called Ferrari Portaventura and it is in Barcelona, Spain. This second facility opened recently, in 2017. The organization is eyeing to build theme parks in North America and Asia as well.