Ford, the manufacturer of Shelby Cobras, tried to buy Ferrari in 1963, but no agreement was reached. In the early 1960s, Shelby Cobras challenged Ferraris.The GTO rejected Jaguar's challenge and became one of the most famous sports cars in history. A young engineer successfully tweaked the GTO's handling and designed an entirely new body for the car. The development of this car, the 250 GTO, was at a critical juncture, with chassis and styling development still in progress. The company was developing a new model based on the 250 to defend its honor against the Jaguar E-Type. The "great work stoppage" of 1961 came at a particularly difficult time for Ferrari.Ironically, the two companies were later brought together in the portfolio of companies acquired by the Fiat Group. One of the early competitors of Ferrari was Alfa Romeo, which formed a complicated relationship with founder Enzo Ferrari.A few months later, the "fired four" formed their own company, ATS, which acquired Scuderia Serenissima, one of Ferrari's best racing customers. As a result, Ferrari called a meeting and dismissed all managers involved.Īll the above employees were key managers and experts in their field, which meant a significant loss for the company. Ferrari was issued an ultimatum, demanding in a letter that his wife be dismissed from the company. Enzo’s wife was involved with the company for a long time, arguing with high managers Gardini, Tavoni, the chief engineer Carlo Chiti and the head of experimental sports car development Giotto Bizzarrini. In November 1961, internal tensions reached boiling point. The strong personality of Enzo Ferrari was essential to the success of his company and his racing team Scuderia Ferrari over the years. This was considered by enthusiasts to be a special "character trait" of Ferrari. Until the mid-1980s, Ferraris were generally quite unreliable and required frequent maintenance. The Ferrari became a cult car among young multimillionaires, and the small production runs were quickly sold out despite the long waiting periods.įerrari's were typically equipped with small-displacement V8 and V12 engines, usually of mid-engine design. This was helped by the fact that the bodywork of the Ferraris was designed by famous design companies such as Pininfarina, Bertone, Ghia, and Touring. The aim was to use the proceeds to support Enzo's racing team. The first road-going Ferrari, the 125S model with a 1.5-liter V12 engine, was produced in 1947. As part of his agreement to leave Alfa Romeo, Enzo Ferrari promised not to use the Ferrari name during the next four years. During the same period, the Scuderia Ferrari racing team was disbanded, which forced Enzo to leave Alfa Romeo. Alfa Romeo brought its racing operations in-house again in 1938, forming Alfa Corse in Milan and hiring Enzo Ferrari as its new racing manager. Until 1938, many successful drivers were prepared and raced at Alfa Romeo. The company quickly became Alfa Romeo's technical-racing outpost and took over as its official racing department when Alfa Romeo ceased to operate its own team in 1933. Racing cars were purchased, prepared, and fielded by the Scuderia. Ferrari History I - From racing to manufacturing Started as a racing teamįounded in 1929, a company, Scuderia Ferrari, was set up in Modena by Enzo Ferrari to sponsor amateur racing drivers. With brand value of $6.9 billion, it's the strongest automobile brand in the world in 2022. ![]() 7/10 most expensive cars bought in an action are Ferraris.Ferrari sells approximately $2.5 billion worth of merchandise every year worldwide. ![]() Fast forward to today, and it holds a market value of $30 billion. In 2015, Ferrari reached a market value of $10 billion when it went public on the New York Stock Exchange. From movies to tv and music videos, car shows, Formula 1, and other sporting events, Ferrari is engrained into world culture as an Italian symbol of luxury and wealth. Even though it's no longer the age of cars, there would be few that haven't heard of Ferrari.
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