Ferrari S.p.A. is an Italian luxury sports car manufacturer based in Maranello, Italy. Founded in 1939 by Enzo Ferrari (1898–1988), the company built its first car in 1940, adopted its current name in 1945, and began to produce its current line of road cars in 1947. Ferrari became a public company in 1960, and from 1963 to 2014, it was a subsidiary of Fiat S.p.A. It was spun off from Fiat's successor entity, Fiat Chrysler Automobiles, in 2016. The company currently offers a large model range which includes several supercars, grand tourers, and one SUV. Many early Ferraris, dating to the 1950s and 1960s, were counted amongst one of the most expensive cars ever sold at auction.
Throughout its history, the company has been noted for its continued participation in racing, especially in Formula One, where its team, Scuderia Ferrari, is the series' single oldest and most successful. Scuderia Ferrari has raced since 1929, first in Grand Prix events and later in Formula One, where it holds many records. Historically, Ferrari was also highly active in sports car racing, where its cars took many wins in races such as the Mille Miglia, Targa Florio and 24 Hours of Le Mans, as well as several overall victories in the World Sportscar Championship. Scuderia Ferrari fans, commonly called tifosi, are known for their passion and loyalty to the team. Ferrari is one of the world's strongest brands, and it maintains a brand image built around racing heritage, luxury, and exclusivity. The company is publicly traded, with significant ownership, by Piero Ferrari, and Exor N.V. As of May 2023, Ferrari is also one of the largest car manufacturers by market capitalisation, with a value of approximately US$85.5 billion.
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