Ferrari S.p.A. is an Italian luxurious sports car producer primarily based in Maranello. founded with the aid of Enzo Ferrari in 1929, as Scuderia Ferrari, the corporation backed drivers and synthetic race cars before entering into production of road-criminal vehicles in 1947. Fiat acquired 50% of Ferrari in 1969 and accelerated its stake to 90% in 1988. Ferrari is the sector’s maximum powerful brand in line with emblem Finance. In may 2012 the 1962 Ferrari 250 GTO have become the most expensive automobile in history, selling in a private transaction for $38,a hundred and fifteen,000 to American communications tycoon Craig McCaw. In 2014 Fiat introduced its intentions to promote a portion of its percentage in Ferrari; as of the announcement Fiat owned ninety% of Ferrari. In July 2015, it became introduced that 10% of the organization would be offered up for public sale in an IPO, with 80% of the company being dispensed to shareholders of Fiat Chrysler automobiles, and the last 10% continuing to be owned via Piero Ferrari. throughout its records, the agency has been noted for its endured participation in racing, specially in formula One, where it’s miles the maximum successful racing group, holding the most constructors championships and having produced the very best range of prevailing drivers. Ferrari road automobiles are normally seen as a symbol of pace, luxury and wealth.